Pencil Company purchased 40 percent ownership of Stylus Corporation on January 1, 20X1, for $156,000. Stylus's balance sheet at the time of acquisition was as follows STYLUS CORPORATION Balance Sheet January 1, 20x1 Liabilities and Equities Assets Cash Accounts Receivable Inventory Land Buildings & Equipment Less: Accumulated Depreciation Total Assets $42,000 Current Liabilities 31,000 291,000 191,000 31,000 134,000 Bonds Payable 94,000 Common Stock 164,000 Additional Paid-In Capital 307,000 135,000) 172,000 Retained Earnings 62,000 $606,000 $606,000 Total Liabilities & Equities During 20X1 Stylus Corporation reported net income of $25,000 and paid dividends of $5,000. The fair values of Stylus's assets and liabilities were equal to their book values at the date of acquisition, with the exception of buildings and equipment, which had a fair value $29,000 above book value. All buildings and equipment had remaining lives of five years at the time of the business combination. The amount attributed to goodwill as a result of its purchase of Stylus shares is not impaired