On January 1. Year 5, Black Corp. purchased 90% of the common shares of Whyte Inc. On this date, the following differences were observed with regard to specific net assets of Whyte: Fair Valve-Carrying Amount Differences Land + 50,000 Buildings (net) + 20.000 - 10.000 Equipment (net) Notes payable + 5.000 The non-consolidated and consolidated balance sheets of Black Corp. on January 1, Year 5, are presented below. Whyte's retained earnings were $140,000 on this date. Non-consolidated Consolidated Cash $ 36.000 $ 52.000 Accounts receivable 116.000 168.000 Inventory 144.000 234.000 292.500 Investment in Whyte Land 210,000 280,000 Buildings (net) 640.000 720.000 Equipment (net) 308,000 338.000 Goodwill 50.000 $1.746.500 $1.842.000 Accounts payable $ 88.000 $ 96,000 507,500 562.500 380,000 380,000 Notes payable Common shares Retained earnings Non-controlling interest 771.000 771.000 32.500 $1.746,500 $1.842.000 Required Prepare the January 1, Year 5, balance sheet of Whyte Inc. Page 20 Page 200