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

	Percy				Saltz
Cash	$	200,200			$	4,050
Accounts receivable		50,100				14,100
Inventory		60,150				42,200
Plant		475,500				192,300
Accumulated amortization		(125,500	)			(90,100	)
Trademarks(net)						14,100
	$	660,450			$	176,650
Current liabilities	$	100,200			$	20,100
Long-term debt		160,300				40,200
Common shares		220,100				60,100
Retained earnings		179,850				56,250
	$	660,450			$	176,650

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

Cash				$	4,050
Accounts receivable					14,100
Inventory					52,100
Plant					120,500
Trademarks					28,200
					218,950
Current liabilities	$	20,100
Long-term debt		38,100			58,200
Net assets				$	160,750

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 $49,250.

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.

Required:

Prepare the consolidated balance sheet on January 1, Year 11.

Percy Corp.
Consolidated Balance Sheet
January 1, Year 11
Assets
Cash
Accounts receiveable
Inventory
Plant (net)
Trademarks (net)
Taxi license
Goodwill
		$0
Liabilities
Current liabilities
Long-term debt
Shareholders' equity
Common shares
Retained earnings
Non-controlling interest
		$0
		$0