HET purchased 80% of the 10,000 outstanding shares LNET had on Jan. 1, 2019 for $300,000 cash. On that day, LNET had 10,000 preferred shares, 4% cumulative, redeemable at a price which is $1 higher than the cost, and dividends were one year in arrears. HET did not own any of those preferred shares. Both companies have Dec. 31 as the reporting day. LNET reported the followings: Common shares: $180,000 on Jan 1, 2019 Preferred shares: $40,000 on Jan 1, 2019 Retained earnings: $80,000 on Jan 1, 2019 Net income: $70,000 for 2019 Dividends declared: $6,000 on Dec 30, 2019 Assume: the entity theory is used. 7) What is the total acquisition differential on Jan. 1, 2019