Pizza Corporation acquired 80 percent ownership of Slice Products Company on January 1, 20X1, for $146,000. On that date, the fair value of the noncontrolling interest was $36,500, and Slice reported retained earnings of $42,000 and had $94,000 of common stock outstanding. Pizza has used the equity method in accounting for its investment in Slice. Trial balance data for the two companies on December 31, 20X5, are as follows: Item Cash & Receivables Inventory Land Buildings & Equipment Pizza Corporation Credit slice Products Company Debit $ 65,000 105,000 82,000 159,000 42,000 14,000 Debit $ 90,000 262,000 82,000 513,000 178,280 113,000 24,000 14,000 6,000 41,000 16,400 $ 197,000 42,000 236,600 296,000 310,000 209,000 26,680 Credit Investment in Slice Products Company Cost of Goods Sold Depreciation Expense Inventory Losses Dividends Declared Accumulated Depreciation Accounts Payable Notes Payable Common Stock Retained Earnings Sales Income from Slice Products Company $ 98,000 12,000 101,400 94,000 84,000 100,000 $1,317,280 $1,317,280 $489,400 $489,400