On January 1, 2014, Perry Company purchased 7,400 shares of Soho Company's common stock for $123,000. Immediately after the stock acquisition, the statements of financial position of Perry and Soho appeared as follows: Assets Perry Soho Cash $40,950 $20,020 Accounts receivable 55,120 31,390 Inventory 39,940 26,740 Investment in Soho Company 123,000 Plant assets 161,590 105,180 Accumulated depreciation-plant assets (54,310 ) (18,670 ) Total $366,290 $164,660 Liabilities and Owners' Equity Current liabilities $18,910 $24,460 Mortgage notes payable 42,050 Common stock, $10 par value 122,490 92,500 Other contributed capital 135,790 17,160 Retained earnings 47,050 30,540 Total $366,290 $164,660