Q.2 Fadi Corporation paid $200,000 cash for 40% of the voting common stock of Sari Land Inc. on January 1, 2019. Book value and fair value information for Sari on this date is as follows: Book Fair Assets Values Values Cash $60,000 $60,000 Accounts receivable 120,000 120,000 Inventories 80,000 100,000 Equipment 340,000 400,000 $600,000 $680,000 Liabilities & Equities Accounts payable $200,000 $200,000 Note payable 120,000 100,000 Capital stock 200,000 Retained earnings 80,000 $600,000 $300,000 Required: Prepare an allocation schedule for Fadi's investment in Sari Land.