On December 31, Year 3, Mueller Corp. acquired 80% of the outstanding shares of Wilson Inc. for a total cost of $278,000. The carrying amount of Wilsons assets, liabilities, and equity was equal to fair value except for the following: Carrying Amount Fair Value Inventory $ 61,900 $ 71,800 Equipment, net 289,000 295,000 Patent 43,800 Long-term debt 199,000 163,800 Common shares 194,000 ? Retained earnings 45,800 ?