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Please explain how to get these answers. Plate Corporation acquired 75 percent of the stock of Silver Company on January I , 20X7, for $225,000.

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Please explain how to get these answers.

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Plate Corporation acquired 75 percent of the stock of Silver Company on January I , 20X7, for $225,000. At that date, the fair value of the noncontrolling interest was $75,000. Silver's balance sheet contained the following amounts at the time of the combination: Cash Accounts Receivable Inventory Buildings and Equipment (net) Total Assets s s 40,000 40,000 20,000 300,000 400 ooo Accounts Payable Bonds Payable Common Stock Retained Earnings s s 50,000 50,000 100,000 200,000 400 ooo During each of the next tluee years, Silver reported net income of $30,000 and paid dividends of S 10,000. On January 1, 20X9, Plate sold 1,500 shares of Silver's SIO par value shares for $60,000 in cash. Plate used the fully adjusted equity method in accounting for its ownership of Silver Company.

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