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Slim Corporations balance sheet at January 1, 20X7, reflected the following balances: Assets Liabilities & Stockholders Equity Cash & Receivables $ 99,000 Accounts Payable $

Slim Corporations balance sheet at January 1, 20X7, reflected the following balances:

Assets Liabilities & Stockholders Equity
Cash & Receivables $ 99,000 Accounts Payable $ 28,000
Inventory 126,000 Income Taxes Payable 43,000
Land 70,000 Bonds Payable 281,000
Buildings & Equipment (net) 489,000 Common Stock 241,000
Retained Earnings 191,000
Total Assets $ 784,000 Total Liabilities & Stockholders Equity $ 784,000

Ford Corporation entered into an active acquisition program and acquired 80 percent of Slims common stock on January 2, 20X7, for $452,000. The fair value of the noncontrolling interest at that date was determined to be $113,000. A careful review of the fair value of Slims assets and liabilities indicated the following:

Book Value Fair Value
Inventory $ 126,000 $ 146,000
Land 70,000 60,000
Buildings & Equipment (net) 489,000 556,000

Goodwill is assigned proportionately to Ford and the noncontrolling shareholders.

Required:

Compute the appropriate amount related to Slim to be included in the consolidated balance sheet immediately following the acquisition for each of the following items:

Amounts
a. Inventory $146,000
b. Land $60,000
c. Buildings and equipment (net) $556,000
d. Goodwill
e. Investment in Slim Corporation
f. Noncontrolling interest $113,000

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