Plaza, Inc., acquires 80 percent of the outstanding common stock of Stanford Corporation on January 1, 2021, in exchange for $1,080,000 cash. At the acquisition date, Stanford's total fair value, including the noncontrolling interest, was assessed at $1,350,000. Also at the acquisition date, Stanford's book value was $555,700. 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, 2021, for both companies. At year-end, there were no intra-entity receivables or payables