here are no results for On December 31, 2023, Pan Inc. purchased 75% of the 400,000 ordinary shares of Sand Corp. for $960,000. The fair values were equal to carrying values for all its net assets except for Inventory, which had a fair value that was $16,000 more than the carrying value Accounts receivable, which had a fair value of $12,000 less than their book value Equipment, whose fair value was $42,000 less than the net book value. As of December 31, 2023, Sand Corp.s equipment had a remaining useful life of 6 years. Long term liabilities whose fair value was $36,000 less than book value. As of December 31, 2023, these liabilities had 8 years remaining to maturity. An unrecorded patent, valued at $45,000. As of December 31, 2023, the patent had a remaining legal life of 7 years, and an estimated useful life of 5 years. The statements of financial position for Pan Inc. and Sand Corp. at December 31, 2023 were as follows: Statements of Financial Position December 31, 2023 Pan Inc. Sand Corp. Cash $ 400,000 $ 200,000 Accounts and other receivables 520,000 300,000 Inventory 420,000 300,000 PP&E net 2,300,000 1,200,000 Investment in Sand Corp. 960,000 Total assets $ 4,600,000 $ 2,000,000 Current liabilities $ 640,000 $ 150,000 Long term liabilities 1,200,000 900,000 Ordinary shares 1,000,000 400,000 Retained earnings 1,760,000 550,000 Total $ 4,600,000 $ 2,000,000 Pan Inc. uses the fair value enterprise method to value the non-controlling interest. Sands common shares were trading at $3.00 per share on January 1, 2024. 2 Additional information 1) Each year, goodwill is evaluated to determine if there has been a permanent impairment.