mework Saved Statue Corporation's balance sheet at January 1, 20X7, reflected the following balances: Assets Liabilities & Stockholders' Equity Cash & Receivables $ 81,000 Accounts Payable $31,000 Inventory Land 139,000 Income Taxes Payable 45,000) Buildings & Equipment (net) 80,000 492,000 Bonds Payable 298,000 Common Stock Retained Earnings 234,000 184,000 Total Assets $ 792,000 Total Liabilities & Stockholders' Equity 5.792,000 2358 Prize Corporation entered into an active acquisition program and acquired 80 percent of Statue's common stock on January 2, 20X7, for $438,000. The fair value of the noncontrolling interest at that date was determined to be $109,500. A careful review of the fair value of Statue's assets and liabilities indicated the following: Inventory Land Book Value $139,000 Buildings Equipment (net) 00,000 492,000 Fair Value $ 159,000 70,000 568,000 Goodwill is assigned proportionately to Prize and the noncontrolling shareholders. Required: Compute the appropriate amount related to Statue to be included in the consolidated balance sheet immediately following the acquisition for each of the following items a: Inventory b. Land c. Buildings and equipment (net) d. Goodwill e. Investment in Statue Corporation 1. Noncontrolling interest Amounts Prev 1 of 1 Next Help Save