FJAIUL RUSTIC LIME BIK... Review Test Subm. Netflix Watch Empire Onl... www.youtube.com WilePLUS mam 2-Ch 4 & 5 0 Saved Required information Use the following information for Problems 17-21 On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows: "art 1 of 5 Current assets Noncurrent assets Total assets Current liabilities Long-term debt Stockholders' equity Total liabilities and equities Park $ 89,250 113,000 $ 202,250 $ 51,500 50, 750 100,000 $ 202,250 Strand $ 24,250 43,000 $ 67,250 $ 17,250 50,000 Sints $ 67,250 X 01:39:48 On January 2, Park borrowed $69,200 and used the proceeds to obtain 80 percent of the outstanding commons Strand. The acquisition price was considered proportionate to Strand's total fair value. The $69,200 debt is payab equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment ou underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (90 percen Problem 4-17 (LO 4-2) On a consolidated balance sheet as of January 2, what should be the amount for current assets?