Pacer Corporation acquired 80% of Slicker Company's voting stock for $36,250 on January 1, 2019. The reported equity of Slicker on January 1, 2019 was $3,000 in common stock and $9,000 in retained earnings. The fair value of the noncontrolling interest was $7,750. Slicker's assets and liabilities were reported at fair value at the date of acquisition, except for these items: Land Buildings Identifiable intangibles Book Value $2,000 8,000 0 Fair Value $8,000 3,000 10,000 The buildings had a remaining useful life of 10 years, and the identifiable intangibles are amortized over 5 years as of the date of acquisition, both straight-line. Goodwill is impaired by $2,000 in 2019 and is unimpaired in 2020. The land, buildings, and identifiable intangibles are still held by Slicker. It is now December 31, 2020 (two years since the acquisition took place). The trial balances of Pacer and Slicker are in the consolidation working paper below. Information on intercompany transactions is as follows: 1. On January 2, 2019, Pacer sold Slicker equipment for a price of $800. The equipment had a book value of $300 at the time of sale, and a remaining life of 5 years, straight-line. 2. Slicker sells merchandise to Pacer on a continuing basis, at a markup of 20% on cost. Pacer's 2020 beginning inventory contains $90 in goods purchased from Slicker. Pacer's 2020 ending inventory contains $120 in roods purchased from Slicker. Total intercompany sales for 2020 were $3.000. contains $120 in goods purchased from Slicker. Total intercompany sales for 2020 were $3,000. Provide answers for Investment in Slicker, Equity income and the consolidated balances as indicated below. Please do NOT use $ signs or (.). Just input your answers as 11,111 Pacer Slicker Consol Dr (Cr) Dr (Cr) Current assets $ 16,000 $ 6,000 Dr (Cr) Land 8,000 7,000 25,000 Buildings & equipment 145,200 (net) Investment in Slicker Identifiable intangibles Goodwill Current liabilities Long-term debt Capital stock (9,000) (158,338) (10,000) (5,000) (16,000) (3,000) (20,000) (11,000) Retained earnings, beg. AOCI, beg. NCI in Slicker (2,000) Current liabilities Long-term debt Capital stock (9,000) (158,338) (10,000) (5,000) (16,000) (3,000) (20,000) (11,000) Retained earnings, beg. AOCI, beg. NCI in Slicker (2,000) Dividends 800 Revenues (155,000) (40,000) Equity in NI of Slicker Cost of goods sold 118,000 28,000 Operating expenses 32,000 9,000 (200) NCI in NI of Slicker Total S S 0 Pacer Corporation acquired 80% of Slicker Company's voting stock for $36,250 on January 1, 2019. The reported equity of Slicker on January 1, 2019 was $3,000 in common stock and $9,000 in retained earnings. The fair value of the noncontrolling interest was $7,750. Slicker's assets and liabilities were reported at fair value at the date of acquisition, except for these items: Land Buildings Identifiable intangibles Book Value $2,000 8,000 0 Fair Value $8,000 3,000 10,000 The buildings had a remaining useful life of 10 years, and the identifiable intangibles are amortized over 5 years as of the date of acquisition, both straight-line. Goodwill is impaired by $2,000 in 2019 and is unimpaired in 2020. The land, buildings, and identifiable intangibles are still held by Slicker. It is now December 31, 2020 (two years since the acquisition took place). The trial balances of Pacer and Slicker are in the consolidation working paper below. Information on intercompany transactions is as follows: 1. On January 2, 2019, Pacer sold Slicker equipment for a price of $800. The equipment had a book value of $300 at the time of sale, and a remaining life of 5 years, straight-line. 2. Slicker sells merchandise to Pacer on a continuing basis, at a markup of 20% on cost. Pacer's 2020 beginning inventory contains $90 in goods purchased from Slicker. Pacer's 2020 ending inventory contains $120 in roods purchased from Slicker. Total intercompany sales for 2020 were $3.000. contains $120 in goods purchased from Slicker. Total intercompany sales for 2020 were $3,000. Provide answers for Investment in Slicker, Equity income and the consolidated balances as indicated below. Please do NOT use $ signs or (.). Just input your answers as 11,111 Pacer Slicker Consol Dr (Cr) Dr (Cr) Current assets $ 16,000 $ 6,000 Dr (Cr) Land 8,000 7,000 25,000 Buildings & equipment 145,200 (net) Investment in Slicker Identifiable intangibles Goodwill Current liabilities Long-term debt Capital stock (9,000) (158,338) (10,000) (5,000) (16,000) (3,000) (20,000) (11,000) Retained earnings, beg. AOCI, beg. NCI in Slicker (2,000) Current liabilities Long-term debt Capital stock (9,000) (158,338) (10,000) (5,000) (16,000) (3,000) (20,000) (11,000) Retained earnings, beg. AOCI, beg. NCI in Slicker (2,000) Dividends 800 Revenues (155,000) (40,000) Equity in NI of Slicker Cost of goods sold 118,000 28,000 Operating expenses 32,000 9,000 (200) NCI in NI of Slicker Total S S 0