Problem 3-2 On January 1, 2014, Perry Company purchased 8,704 shares of Soho Company's common stock for $115,000. Immediately after the stock acquisition, the statements of financial position of Perry and Soho appeared as follows: Assets Soho Cash $17,440 32,240 25,540 Perry $40,870 57,470 38,730 115,000 160,480 (55,300 ) $357,250 105,800 (18,540 ) $162,480 Accounts receivable Inventory Investment in Soho Company Plant assets Accumulated depreciation-plant assets Total Liabilities and Owners' Equity Current liabilities Mortgage notes payable Common stock, $10 par value Other contributed capital Retained earnings Total $24,580 $20,260 36,760 112,790 131,110 56,330 $357,250 108,800 17,500 11,600 $162,480 (al) ) Your answer is correct. Calculate the percentage of Soho acquired by Perry Company. 80 Percentage of Soho acquired % (a2) Prepare a schedule to compute the difference between book value of equity and the value implied by the purchase price. Any difference between the book value of equity and the value implied by the purchase price relates to subsidiary plant assets. Non- Parent Controlling Entire Share Share Value Purchase Price and Implied Value Less : Book Value of Equity Acquired Common Stock Other Contributed Capital Retained Earnings V Total Book Value Difference Between Implied and Book Value Plant Assets Balance $ $ Click if you would like to Show Work for this question: Open Show Work