on 39 ed On December 31, 2008, Mercury Corporation acquired 100% ownership of Saturn Corporation. On that date, Saturn reported assets and liabilities with book values of $300,000 and $100,000, respectively, common stock outstanding of $50,000, and retained earnings of $150,000. The book values and fair values of Saturn's assets and liabilities were equal except for land which had increased in value by $5,000 and inventories which had decreased by $10,000 Based on the preceding information, what amount of goodwill balance immediately after the business combination, if the acquisition price was $240,000? out of question Select one: a. 45,000 O b. 40,000 c. 35,000 d. 30,000 40 Under the equity method of accounting, a parent company's journal entry to record income from subsidiary includes a debit to the investment account and a credit to the dividend account Select one: ut of True False Jestion