Pace Corporation acquired 100 percent of Spin Company's common stock on January 1, 20X9. Balance sheet data for the two companies immediately following the acquisition follow:

Item	Pace Corporation	Spin Company
Cash	$30,000	$25,000
Accounts Receivable	80,000	40,000
Inventory	150,000	55,000
Land	65,000	40,000
Buildings and Equipment	260,000	160,000
Less: Accumulated Depreciation	(120,000)	(50,000)
Investment in Spin Company Stock	150,000
Total Assets	$615,000	$270,000
Accounts Payable	$45,000	$33,000
Taxes Payable	20,000	8,000
Bonds Payable	200,000	100,000
Common Stock	50,000	20,000
Retained Earnings	300,000	109,000
Total Liabilities and Stockholders Equity	$615,000	$270,000

At the date of the business combination, the book values of Spin's net assets and liabilities approximated fair value except for inventory, which had a fair value of $60,000, and land, which had a fair value of $50,000. The fair value of land for Pace Corporation was estimated at $80,000 immediately prior to the acquisition.

Based on the preceding information, at what amount should total land be reported in the consolidated balance sheet prepared immediately after the business combination?

$130,000

$105,000

$115,000

$120,000

Required information

Based on the preceding information, what amount of total assets will appear in the consolidated balance sheet prepared immediately after the business combination?

$756,000

$735,000

$750,000

$642,000

Required information

Based on the preceding information, what is the differential associated with the acquisition?

$15,000

$21,000

$6,000

$10,000

Required information

Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet prepared immediately after the business combination?

$0

$21,000

$6,000

$15,000

Required information

Based on the preceding information, what amount of liabilities will be reported in the consolidated balance sheet prepared immediately after the business combination?

$615,000

$406,000

$300,000

$265,000

Required informationn

Based on the preceding information, what amount of retained earnings will be reported in the consolidated balance sheet prepared immediately after the business combination?

$300,000

$409,000

$259,000

$191,000

Required information

Based on the preceding information, what amount of total stockholder's equity will be reported in the consolidated balance sheet prepared immediately after the business combination?

$300,000

$479,000

$315,000

$350,000