On January 1, 2020, Mermaid Heel Guild paid $1,160,000 to acquire Sabertooth Guild. Sabertooth maintained separate incorporation. Mermaid Heel uses the sophisticated equity method to account for the investment. The following information is available for Sabertooth Guild's assets, liabilities, and stockholders' equity accounts on January 1, 2020: Book Fair Value Value Current assets Land Building (twenty year life) Equipment (ten year life) Current liabilities $130,000 $130,000 75,000 193,000 250,000 276,000 540,000 518,000 26,000 26,000 Long-term liabilities 124,000 124,000 Common stock 233,000 Additional paid-in 389,000 capital Retained earnings 223,000 Sabertooth Guild earned net income for 2020 of $134,000 and paid dividends of $51,000 during the year. At the end of 2020, the consolidation entry to eliminate Mermaid Heel's accrual of Sabertooth's earnings would include a credit to Investment in Sabertooth Guild for Multiple Choice $0. $134,000. $133,100. $83,000. $134,900