On June 30, 2021, Plaster, Inc., paid $996,000 for 80 percent of Stucco Company's outstanding stock. Plaster assessed the acquisition-date fair value of the 20 percent noncontrolling interest at $249,000. At acquisition date, Stucco reported the following book values for its assets and liabilities: Cash Accounts receivable Inventory Land Buildings Equipment $ 65,000 138,000 221,000 71,000 191,000 327,000 (38,000) Accounts payable (Parentheses Indicate credit balances.) 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) $ 81,000 189,000 At the end of 2021, the following comparative (2020 and 2021) balance sheets and consolidated income statement were available: Cash Accounts receivable (net) Inventory Land Buildings (net) Equipment (net) Plaster, Inc. December 31, 2020 46,000 Consolidated December 31, 2021 $ 259,800 519,300 769,900 392,000 403,000 387,000 444,000 321,000 262,000 1,925,000 $3,385,000 Accounts payable. $ Long-term liabilities 16,000 430.000 $ Database Total assets 2,182,500 179,550 $ 4,706,050 115,000 1 168 400