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Pie Corporation acquired 85 percent of Slice Company's common stock on December 31, 20X5, at underlying book value. The book values and fair values of

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Pie Corporation acquired 85 percent of Slice Company's common stock on December 31, 20X5, at underlying book value. The book values and fair values of Slice's assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 15 percent of the total book value of Slice. Slice provided the following trial balance data at December 31, 20X5: Debit Credit Cash 28,900 Accounts Receivable 64,300 88,000 Inventory Buildings and Equipment 217,000 (net) 106,000 24,400 30,540 15,000 Cost of Goods Sold Depreciation Expense Other Operating Expenses Dividends Declared $ 33,200 Accounts Payable Notes Payable 114,000 90,000 128,500 208,440 $574,140 Common Stock Retained Earnings Sales $574,140 Total Required: a. How much did Pie pay to purchase its shares of Slice? (Round your answer to nearest whole dollar amount.) Purchase price b. If consolidated financial statements are prepared at December 31, 20X5, what amount will be assigned to the noncontrolling interest in the consolidated balance sheet? (Round your answer to nearest whole dollar amount.) Noncontrolling interest C. If Pie reported income of $144,750 from its separate operations for 20X5, what amount of consolidated net income will be reported for 20X5? Consolidated net income d. If Pie had purchased its ownership of Slice on January 1, 20X5, at underlying book value and Pie reported income of $144,750 from its separate operations for 20X5, what amount of consolidated net income would be reported for 20X5? Consolidated net income ... ... ... .......... ... .. sss.... . . . . sss

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