STOCK ACQUISITION = AFTER DATE Of ACQUISITION Pancake Company purchased 70 %` of the common Stock of Sausage , Inc . on Jan . 1. 2009, for $ 500, 000. Pancake Company maintains its investment in Subsidiary account using the cost method . Prepare the CAL, workpaper Entries , and Complete the workpaper (next page ) for the year Ended 12 / 31 /09 . The DIFFERENCE between book values of the Equity acquired and the value implied by the purchase price is Entirely due to the difference between book value and fair value* of land. Note : Pancake received a $ 70, 000 dividend from Sausage* Prepare the CAD | 5 points ! Parent NCI Total Implied