PRIYA CORPORATION SHELDON CORPORATION Debit Credit Debit Cash $751,800 $318,700 Accounts Receivable 294,000 197,000 Inventory 473,000 210,000 Investment in Sheldon Corp. 1,243,100 Buildings 625,000 292,500 Land 807,000 291,000 Equipment 315,000 345,000 Cost of Goods Sold 342,000 211,000 Depreciation Expense, Building 58,600 Depreciation Expense, Equipment 41,300 Selling & Administrative Expense 159,000 60,000 18,600 24,700 119,600 40,000 Credit Dividends Declared Accumulated Depreciation, Bldg Accumulated Depreciation, Equip Accounts Payable Bonds Payable Common Stock ($1 par) $243,400 156,200 178,000 540,000 $55,800 74,100 172,800 108,400 659,000 315,000 Additional Paid In Capital 1,525,800 415,000 Retained Earnings (01/01/2021) 788,500 235,000 Sales 760,800 692,000 Income from Sheldon Corp. 318,100 $5,169,800 $5,169,800 $2,068,100 $2,068,100 Fair Value of Consideration given from Priya Company to Sheldon's Shareholders IS: 965000 MINUS: Book Value of Sheldon Company's Net Identifiable Assets OF 965000 EQUALS: Differential (if any) OF: A A/ 0 New Goodwill (if any) would be presented in the amount of: 0 A/ Q 9