On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows Current assets Noncurrent assets Total assets Current liabilities Long-term debt Stockholders' equity Total liabilities and equities 98,258 96,588 31,350 42,909 s 186,758 74,25e 31,000 53,750 24,250 i 182,888 186 , 75e 74,250 50,000 On January 2, Park borrowed $58,800 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand's total fair value. The $58,800 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent) Problem 4-17 (LO 4-2) On a consolidated balance sheet as of January 2, what should be the amount for current assets? Multiple Choice Prev 1234of8 Next > rch