Pro Corporation purchased $12,000$ shares of Schroeder Corporation on January $1,20$X$3,$ at book value. At that date, the fair

value of the noncontrolling interest was equal to $20\mathrm{.}0$ percent of Schroeder's book value. On December $31,20$X$8,$ Schroeder

reported these balance sheet amounts:

On January $1,20$X$9.$ Schroeder issued an additional $3,000$ shares of its $$10$ par value common stock to Nonaffiliated Company

for $$60$ per share.

Requlred:

a$.$ Compute the change in book value of the shares held by Pro as a result of Schroeder's issuance of additional shares.

b$.$ Prepare the entry to be recorded on Pro's books to recognize the change in book value of the shares it holds, assuming the

change in book value is to be treated as an adjustment to additional paid$-$in capital.

c$.$ Record the consolidation entry needed to prepare a consolidated balance sheet immediately after Schroeder's issuance of

additional shares.

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Required C

Compute the change in book value of the shares held by Pro as a result of Schroeder's issuance of additional shares.

Note: Do not round the percentage of stock held.

Change in book value of shares