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On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition

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On January 1, 2014, Punch Corporation purchased 80% of the common stock of Soopy Co. Separate balance sheet data for the companies at the acquisition date (after the acquisition) are given below: Cash Accounts Receivable Inventory Land Plant assets Accum. Depreciation Investment in Soopy Total assets Punch $34,000 144,000 132,000 68,000 700,000 (240,000) 392.000 $ 1,230,000 Scopy $206,000 26,000 38,000 32,000 300,000 (60,000) $ 542,000 Accounts payable Capital stock Retained earnings Total liabilities & equities $206,000 $142,000 800,000 300,000 224.000 100.000 $ 1.230,000 $542.000 At the date of the acquisition, the book values of Soopy's net assets were equal to the fair value except for Soopy's inventory, which had a fair value of $50,000. Determine below what the consolidated balance would be for each of the requested accounts. What is the amount of consolidated Retained Earnings? Choose... Choose... : Choose... . What is the amount of total assets? What is the reported amount for the noncontrolling interest? What amount of Inventory will be reported? What amount of Goodwill will be reported? What amount of total liabilities will be reported? Choose... . . Choose... Choose

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