Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2018, in exchange for $955,900 cash. At the acquisition date, Stanford's total fair value, including the noncontrolling interest, was assessed at $1,194,875. Also at the acquisition date, Stanford's book value was $524,400. Several individual items on Stanford's financial records had fair values that differed from their book values as follows: For internal reporting purposes, Plaza, Inc., employs the equity method to account for this investment. The following account balances are for the year ending December 31,2018 , for both companies