Pace Corporation paid $400,000 for an 80% interest in Stew Corporation on January 1, 20X6 when the stockholders' equity of Stew consisted of $200,000 capital stock and $120,000 retained earnings. The following assets of Stew had fair values different from their book values when Pace acquired its interest: Book Value Fair Value Inventories (sold in 20X6) $ 50,000 $ 30,000 Equipment (8-year life at the time of combination) Bonds Payable (matures 5 yrs after acquisition) 600,000 (500,000) 664,000 (525,000) Additional information: Stews accounts payable at December 31, 20X8 included $10,000 owed to Pace. Pace and Stew's financial statements for the year ended 12/31X8 are provided below: Pace Corporation and Subsidiary Consolidation Working Papers For the year ended December 31, 20x8 Pace Stew Adjustments & Eliminations (In 000's) Consolidated (In 000s) (In 000s) (In 000's) Income Statement DR. CR. Sales $882.0 $300.0 Income from Stew 37.6 Cost of sales (600.0) (150.0) Operating expenses (150.0) (75.0) Interest expense (30.0) (25.0) Consolidated net income (CNI) 139.6 50.0 Controlling share of CNI $139.6 $50.0 Retained Earnings Retained earnings-Pace 1/1/X8 $105.0 Retained earnings-Stew 1/1/X8 $160.0 Net income 139.6 50.0 Dividends (100.0) (20.0) Retained earnings-12/31/X8 $144.6 $190.0 Balance Sheet Cash $89.8 $15.0 Accounts receivable 72.0 20.0 Inventories 100.0 60.0 Loan receivable from Stew 50.0 Land 160.0 85.0 Equipment-net 240.0 730.0 Dividends receivable 8.0 Investment in Stew 464.8 Totals $1,184.6 $910.0 Accounts payable $100.0 $60.0 Dividends payable 70.0 10.0 Bonds payable 170.0 400.0 Loan payable to Pace 50.0 Capital stock 700.0 200.0 Retained earnings 144.6 190.0 Totals $1,184.6 $910.0 Calculate the Difference (or Excess)