Priya Corporation acquired 100 percent of Sheldon Company stock on January 1, 2020 for $780,000 cash. Following are pre-closing trial balance amounts for Priya Corporation and Sheldon Company as of December 31, 2020: REQUIRED: CORPORATION Credit CORPORATION Credit SHELDON Debit $262,700 149,000 195,000 Cash Accounts Receivable Inventory Investment in Sheldon Corp. Buildings Land Equipment Cost of Goods Sold Depreciation Expense, Building Depreciation Expense, Equipment Selling & Administrative Expense Dividends Declared Accumulated Depreciation, Bldg Accumulated Depreciation, Equip Accounts Payable Bonds Payable Common Stock ($1 par) Additional Paid In Capital Retained Earnings (01/01/2020) Sales Income from Sheldon Corp. PRIYA Debit $753,600 249,000 437,000 886,200 652,000 709,000 513,000 328,000 56,800 43,100 137,000 70,000 169,000 283,000 232,000 207,000 19,200 23,400 116,800 40,000 $227,200 172,400 187,000 450,000 695,000 1,258,500 908,000 790,400 146,200 $4,834,700 $57,600 93,600 174,900 78,400 273,000 348,000 159,000 512,600 $4,834,700 $1,697,100 $1,697,100 Additional Information: 1. On January 1, 2020, the book values of Sheldon's net assets and liabilities approximated fair values. 2. Priya Corporation uses the equity method to account for its Investment in Sheldon Company. REQUIRED: a. Prepare the Investment Analysis for Priya Company's Investment in Sheldon account AT JANUARY 1, 2020 (3 POINTS) NOTE: BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000 Fair Value of Consideration given from Priya Company to Sheldon's Shareholders IS: MINUS: Book Value of Sheldon Company's Net Identifiable Assets OF A EQUALS: Differential (if any) OF: A New Goodwill (if any) would be presented in the amount of