The balance sheets of Percy Corp. and Saltz Ltd. on December 31, Year 10, are shown below: Percy Cash Accounts receivable Inventory Plant Accumulated amortization Trademarks (net) Current liabilities Long-term debt Retained earnings Common shares $ 201,400 50,700 $ Saltz 4,350 14,700 61,050 43,400 194,100 478,500 (128,500) - $ 663,150 $ 101,400 162,100 220,700 178,950 (90,700) 14,700 $ 180,550 $ 20,700 41,400 60,700 57,750 $ 663,150 $ 180,550 The fair values of the identifiable net assets of Saltz Ltd. on December 31, Year 10, were as follows: Cash Accounts receivable Inventory Plant $ 4,350 14,700 52,700 Trademarks 123,500 29,400 224,650 Current liabilities $ 20,700 Long-term debt 38,700 59,400 Net assets $ 165,250 In addition to the assets identified above, Saltz owned a taxi licence in the City of Moose Jaw. This licence expires in nine years. These licences are selling in the open market at approximately $64,750. On January 1, Year 11, Percy Corp paid $178,000 in cash to acquire 7,000 (70%) of the common shares of Saltz Ltd. Saltz's shares were trading for $23 per share just after the acquisition by Percy. Required: Prepare the consolidated balance sheet on January 1, Year 11. Percy Corp. Consolidated Balance Sheet Assets Cash Accounts receiveable Inventory Plant (net) Trademarks (net) Taxi license Goodwill Liabilities Current liabilities Long-term debt Shareholders' equity Common shares Retained earnings Non-controlling interest January 1, Year 11 $ 0 $ 0 69 $ 0