The following financial statements were prepared on December 31, Year 6. Cash Accounts receivable Inventory Plant and equipment Accumulated depreciation Investment in Silver Company (at cost) Liabilities Common shares Retained earnings BALANCE SHEET $ Pearl 530,000 430,000 3,150,000 4,150,000 (980,000) 4,700,000 $11,980,000 Silver $ 330,000 650,000 4,990,000 (540,000) $5,430,000 $ 499,000 $ 921,000 5,150,000 2,750,000 6,331,000 $11,980,000 1,759,000 $5,430,000