The balance sheets of Percy Corp. and Saltz Ltd. on December 31, Year 10, are shown below:

	Percy				Saltz
Cash	$	203,400			$	4,850
Accounts receivable		51,700				15,700
Inventory		62,550				45,400
Plant		483,500				197,100
Accumulated amortization		(133,500	)			(91,700	)
Trademarks(net)						15,700
	$	667,650			$	187,050
Current liabilities	$	103,400			$	21,700
Long-term debt		165,100				43,400
Common shares		221,700				61,700
Retained earnings		177,450				60,250
	$	667,650			$	187,050

The fair values of the identifiable net assets of Saltz Ltd. on December 31, Year 10, were as follows:

Cash				$	4,850
Accounts receivable					15,700
Inventory					53,700
Plant					128,500
Trademarks					31,400
					234,150
Current liabilities	$	21,700
Long-term debt		39,700			61,400
Net assets				$	172,750

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 $37,250.

On January 1, Year 11, Percy Corp paid $176,000 in cash to acquire 7,000 (70%) of the common shares of Saltz Ltd. Saltzs shares were trading for $21 per share just after the acquisition by Percy.

Rcyuncu Prepare the consolidated balance sheet on January 1. Year 11. Answer is complete but not entirely correct. Percy Corp Consolidated Balance Sheet January 1. Year 11 IS Assets Cash Accounts receiveable Inventory Plant (net) Trademarks (net) Taxi license Goodwill 31,500 x 67,800 x 116,500 479,000 31,600 X 46,500 X 23.000 S 795,700 Liabilities Current liabilities Long-term debt $ 125,400 x 205,200 $ $ Shareholders' equity Common shares Retained earnings Non-controlling interest 221,800 X 177,300 x 66,000 S 465,100 S 795,700