Required information Use the following information to answer questions 10-12 (LO 3-3a) On January 1. 2016, Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $624,000 cash. At January 1, 2016, Sedona's net assets had a total carrying amount of $436,800. Equipment (eight-year remaining life) was undervalued on Sedona's financial I records by $116,000. Any remaining excess fair over book value was attributed to by Sedona (four-year remaining life), but not recorded on its books. Phoenix applies the equity a customer list d method to account for its investment in Sedona. Each year since the acquisition, Sedona has declared a $13,000 dividend. Sedona recorded net income of $102,000 in 2016 and $118,200 in 2017 Selected account balances from the two companies individual records were as follows: $ 639,00e s341,208 439,080 241,e0e 2018 Revenues 2018 Expenses 88,000 346,000 2018 Income from Sedona Problem 3-12 (LO 3-3a) Sedona's customer list? On its December 31, 2018, consolidated balance sheet. what amount should Phoenix report for