Paper Corporation acquired 75 percent of Script Company's common stock on May 15, 20X3, at underlying book value. Script's balance sheet on December 31, 20X6, contained these amounts: Cash Accounts Receivable Inventory Buildings & Equipment Less: Accumulated Depreciation Total Assets $75,000 Accounts Payable 30,000 200,000 100,000 80,000 320,000 $730,000 50,000 Bonds Payable 125,000 Common Stock ($10 par) 700,000 Additional Paid-In Capital (220,000) Retained Earnings 730,000 Total Liabilities&Equities During 20X7, Paper earned operating income of $90,000, and Script reported net income of $45,000. Neither company declared any dividends during 20X7. Assume Paper Corporation has only no-par stock outstanding Script is considering repurchasing 1,000 of its outstanding shares as treasury stock for $68 each