On January 1, 2014, Perry Company purchased 8,768 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 Soho $20,690 32,530 26,930 Perry $37,440 51,730 41,870 123,000 149,500 (54,920 ) $348,620 109,820 (19,320 ) $170,650 Cash Accounts receivable Inventory Investment in Soho Company Plant assets Accumulated depreciation-plant assets Total Liabilities and Owners' Equity Current liabilities Mortgage notes payable Common stock, $10 par value Other contributed capital Retained earnings Total $28,450 $18,450 39,970 119,140 136,630 34,430 $348,620 109,600 16,000 16,600 $170,650 (a1) Your answer is correct. Calculate the percentage of Soho acquired by Perry Company. 80 Percentage of Soho acquired % (a2) Prepare a schedule to compute the difference between book value of equity and the value implied by the purchase price. Any difference between the book value of equity and the value implied by the purchase price relates to subsidiary plant assets. Parent Share Non- Controlling Share Entire Value Purchase Price and Implied Value 123,000 30750 153750 Less Book Value of Equity Acquired Common Stock 8,7680 Other Contributed Capital Retained Earnings Total Book Value Difference Between Implied and Book Value Plant Assets Balance