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please advise thank you Pesto Corporation acquired 60 percent of Sauce Corporation's common stock on January '1, 20x7, for $256,800 in cash. At the acquisition

please advise thank you

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Pesto Corporation acquired 60 percent of Sauce Corporation's common stock on January '1, 20x7, for $256,800 in cash. At the acquisition date, the book values and fair values of Sauce's assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 40 percent of the total book value of Sauce. The stockholders' equity accounts of the two companies at the date of purchase are: Pasta Sauce Corporation Corporation Common Stock ($16 par value] $391,660 $1??,BBIB Additional Paid-In Capital 216,860 68,306 Retained Earnings 355,860 191,808 Total Stockholders' Equityr $952,860 $423,308 Required: a. What amount will be assigned to the noncontrolling interest on January 1' 20x7, in the consolidated balance sheet? b. Prepare the stockholders' equity section of Pesto and Sauce's consolidated balance sheet as of January 1, 20x7. Controlling Interest: _ Total Control | in 9 Interest Total Stockholders' Equity 55 U

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