The balance sheets of E Ltd. and J Ltd. on December 30, Year 6, were as follows: E Lid. J Lid. Cash and receivables $ 96,000 $ 19.500 Inventory 57,000 9.000 Plant assets (net) 228,000 70.500 Intangible assets 24.000 6,000 $405,000 $ 105,000 Page 198 Current liabilities $ 63,000 $ 30,000 Long-term debt 97,500 45,000 Common shares 153.000 46.500 Retained earnings (deficit) 91.500 (16,500) $405,000 $ 105,000 On December 31, Year 6, E Ltd. issued 490 shares, with a fair value of $40 each, for 70% of the outstanding shares of J Ltd. Costs involved in the acquisition, paid in cash, were as follows: Costs of arranging the acquisition $2.500 Costs of issuing shares 1,600 $4.100 The carrying amounts of J Ltd.'s net assets were equal to fair values on this date except for the following: Fair Value Plant assets $65,000 Long-term debt 40,000 E Ltd. was identified as the acquirer in the combination. Required (a) Prepare the consolidated balance sheet of E Ltd. on December 31, Year 6, under the identifiable net assets method. (b) Prepare the consolidated balance sheet of E Ltd. on December 31, Year 6, under the fair value enterprise method