Price Corporation acquired 100 percent ownership of Saver Company on January 1, 20X8, for $178,000. At that date, the fair value of Saver's buildings and equipment was $40,000 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 $7,500. Trial balance data for Price and Saver on December 31, 20X8, are as follows: $ Price Corporation Debit 24,500 Saver Company Item Credit Debit Credit Cash $ 31,000 Accounts Receivable 80,000 17,000 Inventory 100,000 35,000 Land 40,000 25,000 Buildings & Equipment 316,000 160,000 Investment in Saver Company 170,500 Cost of Goods Sold 135,000 120,000 Wage Expense Depreciation Expense Interest Expense Other Expenses Dividends Declared Accumulated Depreciation Accounts Payable Wages Payable 91,000 32,000 30,000 15,000 17,000 9,000 33,500 30,000 40,000 21,000 $ 150,000 $ 90,000 95,000 26,000 27,000 14,000 Notes Payable Common Stock 160,000 11,000 210,000 60,000 Sales Retained Earnings Income from Saver Company 112,000 40,000 310,000 254,000 13,500 $1,077,500 $1,077,500 $495,000 $495,000