Less Than Wholly Owned With No Differential Wholly Owned Acquired at More Than Book Pie Corporation acquired 85 percent of Slice Companys common stock on December 31, 20X5, at underlying book value The book values and fair values of Slices assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 15 percent of the total book value of Slice Slice provided the following trial balance data at December 31, 20X5 Debit Credit Cash 28,900 Accounts Receivable 65,350 Inventory 88,200 Buildings Equipment (net) 206,000 Cost of Goods Sold 106,000 Depreciation Expense 24,450 Other Operating Expense 30,750 Dividends Declared 15,600 Accounts Payable 32,240 Notes Payable 124,000 Common Stock 93,000 Retained Earnings 131,000 Sales 183940 Total 565,280 565 280 a How much did Pie pay to purchase its shares of Slice b If consolidated financial statements are prepared at December 31, 20X5, what amount will be assigned to the noncontrolling interest in the consolidated balance sheet c If Pie reported income of $142,500 from its separate operations for 20X5, what amount of consolidated net income will be reported for 20X5 d If Pie had purchased its ownership of Slice on January 1, 20X5, at underlying book value and Pie reported income of $142,500 from its separate operations for 20X5, what amount of consolidated net income would be reported for 20X5

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Less-Than-Wholly-Owned With No Differential Wholly Owned Acquired at More Than Book Pie Corporation acquired 85 percent of Slice Companys common stock on December 31, 20X5,

Less-Than-Wholly-Owned With No Differential Wholly Owned Acquired at More Than Book

Pie Corporation acquired 85 percent of Slice Companys common stock on December 31, 20X5, at underlying book value. The book values and fair values of Slices assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 15 percent of the total book value of Slice. Slice provided the following trial balance data at December 31, 20X5:

	Debit	Credit
Cash	28,900
Accounts Receivable	65,350
Inventory	88,200
Buildings & Equipment (net)	206,000
Cost of Goods Sold	106,000
Depreciation Expense	24,450
Other Operating Expense	30,750
Dividends Declared	15,600
Accounts Payable		32,240
Notes Payable		124,000
Common Stock		93,000
Retained Earnings		131,000
Sales		183940
Total	565,280	565.280

a. How much did Pie pay to purchase its shares of Slice?

b. If consolidated financial statements are prepared at December 31, 20X5, what amount will be assigned to the noncontrolling interest in the consolidated balance sheet?

c. If Pie reported income of $142,500 from its separate operations for 20X5, what amount of consolidated net income will be reported for 20X5?

d. If Pie had purchased its ownership of Slice on January 1, 20X5, at underlying book value and Pie reported income of $142,500 from its separate operations for 20X5, what amount of consolidated net income would be reported for 20X5?