On June 30, 2018, Plaster, Inc., paid $956,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $239,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment Accounts payable $ 62,500 132,500 212,000 68,000 183,000 313,500 (36,500) 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) $ 78,000 182,000 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 Total assets $44,500 374,500 429,500 310,500 253,500 1,862,500 $251,300 502,300 744,900 378,500 383,500 2,112,000 172,900 $ 4,545,400 $ 111,000 3,275,000 $ 83,000 Accounts payable