Question 20 (6 points) Priya Corporation acquired 70 percent of Sheldon Company on January 1, 2020 for $385,000 cash. The fair value of the other 30 percent ownership interest is estimated to be $165,000. ADDITIONAL INFORMATION: The book value of Sheldon's net assets on the date of acquisition was $325,000. All book values were equal to their fair values, except for the following: 1. Inventory was undervalued by $57,000. 2. Land was overvalued by $45,000. 3. Equipment, net was undervalued by $89,000. THE ACQUISITION DATE INVESTMENT ANALYSIS WOULD INCLUDE: NOTE: BE SURE TO TYPE A SIMPLE NUMBER WITH NO COMMAS OR DOLLAR SIGNS. FOR EXAMPLE, TYPE 1000 INSTEAD OF $1,000