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On January 1, 2012, the Husky Corporation purchased 90% of the Spartan Companys voting stock for $2,700,000. Spartans net assets had a book value of
On January 1, 2012, the Husky Corporation purchased 90% of the Spartan Companys voting stock for $2,700,000. Spartans net assets had a book value of $2,450,000; the fair value of Spartans building was $325,000 greater than its book value. The book value of Huskys net assets immediately after the acquisition of Spartan totaled $6,850,000. Husky used the acquisition method to prepare its consolidated balance sheet. What is total stockholders equity on the January 1, 2012 consolidated balance sheet
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