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On January 1, 2021, loebreaker Co. purchased 40,000 shares of PFI Company common stock for $400,000, giving lcebreaker 25% ownership and the ablity to apply

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On January 1, 2021, loebreaker Co. purchased 40,000 shares of PFI Company common stock for $400,000, giving lcebreaker 25% ownership and the ablity to apply vignificant influence over. PFI. On that date, the book value of PFi was $975,000. Abulding with a carrying value of $180,000 was worth $260,000 The bulding had a temaining lfe of 10 years. PFI owned a tracemark, the trademark was undervalued by $140,000 with an olght-year remainng tife lceareaker attiouted to goodeil any unidenified excess cost. Reguired: PLEASE.SHOW COMPUTATIONS

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