On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $217,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $56,800 120,400 192,600 61,800 166,300 284,900 (33,200) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows: Equipment (3-year remaining life) Database (10-year remaining life) $71,000 164,400 At the end of 2018, the following comparative (2017 and 2018) balance sheets and consolidated income statement were available Plaster, Inc. December 31, 2017 Consolidated December 31 2018 Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Database $40,200 338,300 388,000 280,500 229,000 1,682,500 $227,000 453,700 672,800 342,300 346,800 1,909,900 156,180 On June 30, 2018, Plaster, Inc., paid $868,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $217,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $56,800 120,400 192,600 61,800 166,300 284,900 (33,200) On June 30, Plaster allocated the excess acquisition-date fair value over book value to Stucco's assets as follows: Equipment (3-year remaining life) Database (10-year remaining life) $71,000 164,400 At the end of 2018, the following comparative (2017 and 2018) balance sheets and consolidated income statement were available Plaster, Inc. December 31, 2017 Consolidated December 31 2018 Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Database $40,200 338,300 388,000 280,500 229,000 1,682,500 $227,000 453,700 672,800 342,300 346,800 1,909,900 156,180