On February 1, 2024, Sweet Acacia Company purchased 95% of the outstanding common stock of Michelle Company and 85% of the outstanding common stock of Anthony Company. Immediately before the two acquisitions, balance sheets of the three companies were as follows: Sweet Acacia Michelle Anthony Cash $169,000 $ 52,000 $16,500 Accounts receivable 30,000 30,000 27,900 Notes receivable 17,500 0 0 Merchandise inventory 101,000 42,000 13,100 Prepaid insurance 13,500 2,800 600 Advances to Michelle Company 12,500 Advances to Anthony Company 4,900 Land 248,000 48,000 17,500 Buildings (net) 112,000 27,000 15,000 Equipment (net) 35,000 12,200 3,400 Total $743,400 $214,000 $94,000 Accounts payable $28,000 $20,300 $11,200 Income taxes payable 30,500 10,600 0 Notes pa