on December 31, 20X5, Play Company acquired 80 percent of the common stock of Station Company. At the time, Play held land with a book value of $100,000 and a fair value of $260,000; Station held land with a book value of $600,000 and fair value of $600,000. At what amount would land be reported in a consolidated balance sheet prepared immediately after the combination? a. $590,000 b. $550,000 c. $700,000 d. $860,000