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Statue Corporation's balance sheet at January 1, 20X7, reflected the folowing balances: Prize Corporation entered into an actiwe acquisition program and accuired 90 percent of
Statue Corporation's balance sheet at January 1, 20X7, reflected the folowing balances: Prize Corporation entered into an actiwe acquisition program and accuired 90 percent of Statue's common stock on January 2, 20X7, for $440,000. The fair value of the noncontroling interest at that date was determined to be $110,000. A careful review of the fair valu of Statue's assets and liabilities indicated the following: Goodwill is assigned proportionatcly to Prize and the noncontroling shareholders. Required: Compute the appropriate amount related to Statue to be included in the consolidated balance sheet immedlately following the acquisition for each of the follawing tiems: Answer is complete but not entirely correct
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