Pie Corporation acquired 75 percent of Slice Company's ownership on January 1, 20X8, for $96,000. At that date, the fair value of the noncontrolling interest was $32,000. The book value of Slice's net assets at acquisition was $100,000. The book values and fair values of Slice's assets and liabilities were equal, except for Slice's buildings and equipment, which were worth $20,000 more than book value. Accumulated depreciation on the buildings and equipment was $30,000 on the acquisition date. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, the management of Pie concluded at December 31, 20X8, that goodwill from its purchase of Slice shares had been impaired and the correct carrying amount was $2,500. Goodwill and goodwill impairment were assigned proportionately to the controlling and noncontrolling shareholders. No additional impairment occurred in 20X9. Trial balance data for Pie and Slice on December 31, 20X9, are as follows: Item Cash Pie Corporation Debit Slice Company Credit Debit Credit $ 68,500 $ 32,000 Accounts Receivable 85,000 14,000 Inventory 97,000 24,000 Land 50,000 25,000 Buildings and Equipment 350,000 150,000 Investment in Slice Company 106,875 Cost of Goods Sold 145,000 114,000 Wage Expense 35,000 20,000 Interest Expense Depreciation Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable 25,000 10,000 12,000 4,000 23,000 16,000 30,000 20,000 $ 170,000 51,000 $ 50,000 15,000 Wages Payable Notes Payable Common Stock 14,000 6,000 150,000 50,000 200,000 60,000 Retained Earnings Sales Income from Slice Company 126,875 48,000 290,000 200,000 25,500 $ 1,027,375 $ 1,027,375 $ 429,000 $ 429,000