- On July 1, 2009, Link Corporation paid $450,000 for 90% of Tinsel Company's outstanding common stock. On that date, the costs and fair values of Tinsel's recorded assets and liabilities were as follows:

Cost Fair Value

Cash and Receivables 50,000 50,000

Inventory 130,000 200,000

Buildings and equipment (net) 200,000 310,000

Liabilities (90,000) (120,000)

Net assets 290,000 440,000

Give the worksheet elimination excess value entry that would be used to allocate the differential created in a consolidation worksheet immediately after the business combination. (5 points)