On December $31,$ Year $2,$ Blue purchased a percentage of the outstanding ordinary shares of Joy. On this date all but two categories of Joy$$s identifiable assets and liabilities had fair values equal to carrying amounts.

Following are the statements of financial position of Blue Ltd$.$ and Joy Corp. on December $31,$ Year $2,$ subsequent to the acquisition.

Blue Ltd$.$ Joy Corp.

Plant and equipment $ $652,000$ $ $436,000$

Accumulated amortization $(206,000)(116,000)$

Investment in Joy Corp. $442,500$

Inventory $111,000226,000$

Accounts receivable $84,00041,000$

Cash $23,0004,000$

$ $1,106,500$ $ $591,000$

Ordinary shares $ $428,000$ $ $306,000$

Retained earnings $248,500(47,000)$

Long$-$term debt $256,000246,000$

Current liabilities $174,00086,000$

$ $1,106,500$ $ $591,000$

Below is the consolidated statement of financial position for Blue at December $31,$ Year $2.$

BLUE LTD$.$

CONSOLIDATED STATEMENT OF FINANCIAL POSITION

December $31,$ Year $2$

Plant and equipment $ $1,078,000$

Accumulated amortization $(206,000)$

Goodwill $205,000$

Inventory $357,000$

Accounts receivable $125,000$

Cash $27,000$

$ $1,586,000$

Ordinary shares $ $428,000$

Retained earnings $248,500$

Non$-$controlling interest $147,500$

Long$-$term debt $502,000$

Current liabilities $260,000$

$ $1,586,000$

Required:

$($a$)$ From the information provided, determine the percentage of Joy$$s ordinary shares purchased by Blue on December $31,$ Year $2.($Omit $\%$ sign in your response.$)$

Percentage of Blue$$s ownership

$\%$

$($b$-1)$ Which of Joy$$s assets or liabilities items had fair values that were not equal to their carrying amounts at acquisition? $($You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.$)$

check all that apply

Retained earningsunanswered

Inventoryunanswered

Long$-$term debtunanswered

Goodwillunanswered

Accounts receivableunanswered

Plant and equipmentunanswered

$($b$-2)$ Calculate the fair value of each of Joy$$s assets or liabilities whose fair values were not equal to their carrying amounts at December $31,$ Year $2.$