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Please show work Pidris Corporation paid $200,000 cash for 40% of the voting common stock of Sari Inc. on January 1, 2020 Book value and
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Pidris Corporation paid $200,000 cash for 40% of the voting common stock of Sari Inc. on January 1, 2020 Book value and fair value information for Sari on this date is as follows: Assets Cash Accounts receivable Inventories Equipment Book Values $ 60,000 120,000 80,000 340.000 $ 600.000 Fair Values $ 60,000 120,000 100,000 400,000 $ 680,000 Liabilities & Equities Accounts payable Note payable Capital stock Retained earnings $ 200,000 100,000 $ 200,000 120,000 200,000 80,000 $ 600.000 $ 300.000 Required: Prepare an allocation schedule for Pidris's investment in SariStep by Step Solution
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