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Poison Corporation holds $70$ percent of Snake Company's voting common shares but none of its preferred shares. Summary balance sheets for the companies on December $31,20$X$1,$ are as follows:

$\backslash$table$[[,,\backslash$table$[[$Poison$],[$corporation$]],$Snake Company$],[,\backslash$table$[[$Cash$],[$Rccounts Recelvable$],[$Inventory$],[$Dulidings and Equipment$],[$Less: Recumulated Depreciation$],[$Investment in Snake Company$]],\backslash$table$[[19,000],[35,000],[115,000],[290,000],[(132,000)$