Protrade Corporation acquired 70 percent of the outstanding voting stock of Seacraft Company on January 1, 2017, for $441,000 in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net fair value of$775,000 and the fair value of the 30 percent noncontrolling interest was $189,000. No excess fair value over book value amortization accompanied the acquisition. The following selected account balances are from the individual financial records of these two companies as of December 31, 2018: Sales Cost of goods sold Operating expenses Retained earnings, 1/1/18 Inventory Buildings (net) Investment income Protrade Seacraft 890,000 610,000 415,000 322,000 175,000 130,000 990,000 430,000 371,000 135,000 383,000 182,000 Not given Each of the following problems is an independent situation