Python acquires 80% of the voting stock of Slither on January 1, for $1,500,000. The fair value of the noncontrolling interest is $350,000. Slither's balance sheet at the date of acquisition is as follows: Tangible assets Identifiable intangibles Book Value Dr (Cr) $5,000,000 Fair Value Dr (Cr) $3,500,000 2,000,000 Liabilities (3,000,000) (3,000,000) Capital stock (500,000) Retained earnings (1,400,000) Accumulated other comprehensive income (100,000)