The following information applies to Questions 18-23

Bristle Corporation acquired 75 percent of Silver Corporation's common stock on December 31, 20X8, for $300,000. The fair value of the noncontrolling interest at that date was determined to be $100,000. Silver's balance sheet immediately before the combination reflected the following balances:

A careful review of the fair value of Silver's assets and liabilities indicated that inventory, land, and buildings and equipment (net) had fair values of $65,000, $100,000, and, $300,000 respectively. Goodwill is assigned proportionately to Bristle and the noncontrolling shareholders.

18. Based on the preceding information, what amount of inventory will be included in the consolidated balance sheet immediately following the acquisition? A. $0 B. $65,000 C. $70,000 D. $60,000

19. Based on the preceding information, what amount of land will be included in the consolidated balance sheet immediately following the acquisition? A. $0 B. $10,000 C. $90,000 D. $100,000

20. Based on the preceding information, what amount of buildings and equipment (net) will be included in the consolidated balance sheet immediately following the acquisition? A. $0 B. $50,000 C. $250,000 D. $300,000

21. Based on the preceding information, what amount of goodwill will be reported in the consolidated balance sheet immediately following the acquisition? A. $0 B. $120,000 C. $65,000 D. $20,000

22. Based on the preceding information, what amount will be reported as investment in Silver Corporation stock in the consolidated balance sheet immediately following the acquisition? A. $0 B. $210,000 C. $300,000 D. $400,000

23. Based on the preceding information, what amount will be reported as noncontrolling interest in the consolidated balance sheet immediately following the acquisition? A. $0 B. $70,000 C. $83,750 D. $100,000

Cash and Receivables Inventory Land Buildings and Equipment (net) Total Assets Accounts Payablk Income Taxes Pavable Bonds Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $40,000 70,000 90,000 250,000 S450,000 $30,000 40,000 100,000 100,000 180,000 S450,000