MICRH ger account. 26. Parker, Inc., acquires 70 percent of Sawyer Company for $420,000. The remaining 30 percent of Sawyer's outstanding shares continue to trade at a collective value of $174,000. On the acquisition date, Sawyer has the following accounts: Current assets Land. ...... Buildings.......... Liabilities.......... Book Value $ 210,000 170,000 300,000 (280,000) Fair Value $ 210,000 180,000 330,000 (280,000) . The buildings have a 10-year remaining life. In addition, Sawyer holds a patent worth $140,000 that has a five-year remaining life but is not recorded on its financial records. At the end of the year, the two companies report the following balances: Revenues....... Expenses ..... Parker $1900,000) 600,000 Sawyer $(600,000) 400,000 a. Assume that the acquisition took place on January 1. What figures would appear in a consoli- dated income statement for this year? b. Assume that the acquisition took place on April 1. Sawyer's revenues and expenses occurred uniformly throughout the year. What amounts would appear in a consolidated income statement for this year