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Requlred Information [The following information applies to the questions displayed below.) On January 1, Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260,000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65,000. On January 1. Suarez possessed equipment (five-year remaining life) that was undervalued on its books by $25.000. Suarez also had developed several secret formulas that Jarel assessed at $50,000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life. As of December 31, the financial statements appeared as follows: Jarel (388,880) 148. eee 20, wee (140, 800) 308, 088) (148,888 Suarez $(200,000) 80,000 10,000 $(110,000) $(158,000) (110,000) $(268,900) Revenues Cost of goods sold Expenses Net income Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash and receivables Inventory Investments Equipment (net) Total assets Liabilities common stock Retained earnings, 231 Total liabilities and equiries $ 210,000 150,983 268, 380 [1 110.000 * 1.860,000 338.000 5 588,888 $(149,980) ( 208, 909 (268.800 37588,888 ) 5 ( 1,060,00 Included in the preceding statements, Jarel sold inventory costing $80,000 to Suarez for $100,000. Of these goods, Suarez still owns 60 percent on December 31. What is the consolidated total of noncontrolling interest appearing on the balance sheet? Multiple Choice $87.000 $70.500 $83.100 Requlred Information [The following information applies to the questions displayed below.) On January 1, Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260,000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65,000. On January 1. Suarez possessed equipment (five-year remaining life) that was undervalued on its books by $25.000. Suarez also had developed several secret formulas that Jarel assessed at $50,000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life. As of December 31, the financial statements appeared as follows: Jarel (388,880) 148. eee 20, wee (140, 800) 308, 088) (148,888 Suarez $(200,000) 80,000 10,000 $(110,000) $(158,000) (110,000) $(268,900) Revenues Cost of goods sold Expenses Net income Retained earnings, 1/1 Net income Dividends declared Retained earnings, 12/31 Cash and receivables Inventory Investments Equipment (net) Total assets Liabilities common stock Retained earnings, 231 Total liabilities and equiries $ 210,000 150,983 268, 380 [1 110.000 * 1.860,000 338.000 5 588,888 $(149,980) ( 208, 909 (268.800 37588,888 ) 5 ( 1,060,00 Included in the preceding statements, Jarel sold inventory costing $80,000 to Suarez for $100,000. Of these goods, Suarez still owns 60 percent on December 31. What is the consolidated total of noncontrolling interest appearing on the balance sheet? Multiple Choice $87.000 $70.500 $83.100