Question 10 (1 point) Saved Parent Company purchased 100 percent of Subsidiary Corporation's stock on January 1, X1, for $250,000 cash. Summarized statements of financial position of the companies following the acquisition are presented below. Parent Subsidiary $150,000 Assets Cash Investment Other assets Total assets $100,000 250,000 225,000 $575,000 125,000 $275,000 Liabilities and equity Current liabilities $25,000 $165,000 Share capital Retained earnings Total liabilities and equity 150,000 400,000 $575,000 60,000 50,000 $275,000 Fair values of Subsidiary were equal to book values except for buildings, which had a fair value of $100,000 in excess of net book value. What amount would Parent Company report on its consolidated F/S on January 1, X1, for Total Assets