Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $173,000. At that date, the fair value of Saver's buildings and equipment was $38,000 more than the book value. Buildings and equipment are depreciated on a 10-year basis. Although goodwill is not amortized, Price's management concluded at December 31, 20X8, that goodwill involved in its acquisition of Saver shares had been impaired and the correct carrying value was $7,000. Trial balance data for Price and Saver on December 31, 20X8, are as follows: Price Corporation Item Debit Cash 24,000 Accounts Receivable 79,000 Inventory 99,000 Land 39,000 Buildings & Equipment 331,000 Investment in Saver Company 154,700 Cost of Goods Sold) 134,000 Wage Expense 74,500 Depreciation Expense 29,500 Credit Saver Company Debit Credit $ 30,000 16,500 34,000 24,000 159,000 113,000 31,500 14,500 Interest Expense 16,500 8,500 Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable 31,500 27,500 39,000 20,500 $ 149,500 90,000 $ 85,000 25,000 26,000 13,500 Notes Payable Common Stock 159,000 26,500 209,000 Retained Earnings Sales Income from Saver Company 60,000 111,000 40,000 305,000 229,000 2,200 $1,051,700 $1,051,700 $479,000 $479,000 Required: