Jackson Company acquires 100% of the stock of Clark Corporation on January 1, 2020, for $4,100 cash. As of that date Clark has the following trial balance: Credit Debit $ 500 600 900 1,600 1, eee 900 Cash Accounts receivable Inventory Buildings (net) (5 year life) Equipment (net) (2 year life) Land Accounts payable Long-term liabilities (due 12/31/22) Common stock Additional paid-in capital Retained earnings Total $ 400 1,900 1. eee 700 1,500 $5,500 $5,500 Net income and dividends reported by Clark for 2020 and 2021 follow: Net income Dividends 2020 $ 120 40 2021 $ 140 50 The fair value of Clark's net assets that differ from their book values are listed below: The fair value of Clark's net assets that differ from their book values are listed below: Buildings Equipment Land Long-term liabilities Fair Value $1,200 1,350 1,300 1,750 Any excess of consideration transferred over fair value of net assets acquired is considered goodwill with an indefinite life. Compute the amount of Clark's equipment that would be reported in a December 31, 2020, consolidated balance sheet. Multiple Choice O $825. O $1,000. O $1,175. U O $1,350. O O $1,525