Picky Corporation paid $$350,000$ for an $70\backslash \%$ interest in Sticky Corporation on January $1,20$X$6$ when the stockholders' equity of Sticky consisted of $$200,000$ capital stock and $$140,000$ retained earnings. The following assets of Sticky had fair values different from their book values when Picky acquired its interest: Additional information: Sticky's accounts payable at December $31,20$x$8$ included $\backslash$$$15,000$ owed to Picky. Picky and Sticky's tinancial statements for the year ended $12/31/20$X$8$ are provided below: Dosubeare MV courses $\backslash$begin$\{$tabular$\}\{|$l$|$r$|$r$|\}\backslash$hline Retained Earnings & $$131\mathrm{.}4$ & $$50\mathrm{.}0\backslash \backslash \backslash$hline Retained earnings $1/1/$X$8$ & & $\backslash \backslash \backslash$hline Net income & $131\mathrm{.}4$ & $50\mathrm{.}0\backslash \backslash \backslash$hline Dividends & $(100\mathrm{.}0)$ & $(20\mathrm{.}0)\backslash \backslash \backslash$hline Retained earnings$-12/31/$X$8$ & $$136\mathrm{.}4$ & $$190\mathrm{.}0\backslash \backslash \backslash$hline Balance Sheet & & $\backslash \backslash \backslash$hline Cash & $$166\mathrm{.}6$ & $$15\mathrm{.}0\backslash \backslash \backslash$hline Accounts receivable & $72\mathrm{.}0$ & $20\mathrm{.}0\backslash \backslash \backslash$hline Inventories & $100\mathrm{.}0$ & $60\mathrm{.}0\backslash \backslash \backslash$hline Loan receivable from Sticky & $50\mathrm{.}0$ & $\backslash \backslash \backslash$hline Land & $160\mathrm{.}0$ & $85\mathrm{.}0\backslash \backslash \backslash$hline Equipment$-$net & $240\mathrm{.}0$ & $730\mathrm{.}0\backslash \backslash \backslash$hline Dividends receivable & $7\mathrm{.}0$ & $\backslash \backslash \backslash$hline Investment in Sticky & $380\mathrm{.}8$ & $\backslash \backslash \backslash$hline Totals & $$1,176\mathrm{.}4$ & $$910\mathrm{.}0\backslash \backslash \backslash$hline & & $\backslash \backslash \backslash$hline Accounts payable & $$100\mathrm{.}0$ & $$60\mathrm{.}0\backslash \backslash \backslash$hline Dividends payable & $70\mathrm{.}0$ & $10\mathrm{.}0\backslash \backslash \backslash$hline Bonds payable & $170\mathrm{.}0$ & $400\mathrm{.}0\backslash \backslash \backslash$hline Loan payable to Picky & & $50\mathrm{.}0\backslash \backslash \backslash$hline Capital stock & $136\mathrm{.}4$ & $190\mathrm{.}0\backslash \backslash \backslash$hline Retained earnings & & $\backslash \backslash \backslash$hline Totals & $$910\mathrm{.}0\backslash \backslash \backslash$hline $\backslash$end$\{$tabular$\}$