Problem 3-1 The two following separate cases show the financial position of a parent company and its subsidiary company on November 30, 2014, just after the parent had purchased 90% of the subsidiary's stock: Case I Case II Cmpany S Company Cmpany S Company $ 874,900 $259,100 $787,400 $282,400 Current assets Investment in S Company 188,300 188,300 1,398,300 Long-term assets 398,300 1,191,700 398,300 Other assets 69,500 69,900 90,200 39,600 $2,551,700 $697,000 $2,236,900 $750,600 Total Current liabilities $644,700 $268,900 $705,000 $259,400 Long-term liabilities 849,500 288,100 918,100 271,000 598,500 Common stock 181,800 598,500 181,800 Retained earnings (41,800) 15,300 459,000 38,400 $2,551,700 $697,000 $2,236,900 $750,600 Total (b) Assume that Company S's balance sheet is the same as the balance sheet used in Case I (from part a). Suppose that there were 50,000 shares of S Company common stock outstanding and that Company P acquired 90% of the shares for $4.75 a share. Shortly after acquisition, the noncontrolling shares were selling for $4.50 a share. Prepare a computation and allocation of difference schedule considering this information. (Round answers to 0 decimal places, e.g. 125.) Non- Controlling Parent Entire Share Share Value $ $