The separate condensed balance sheets and income statements of Purl Corp. and its wholly owned Additional information: On January 1, year 2, Purl purchased for $360,000 all of Scott's $10 par, voting common stock. On January 1, year 2, the fair value of Scott's assets and liabilities equaled their carrying amount of $410,000 and $160,000, - respectively, except that the fair values of certain items identifiable in Scott's inventory were $10,000 more than their carrying amounts. These items were still on hand at December 31, year 2. Goodwill is determined to be unimpaired at December 31, year 2. During year 2, Purl and Scott paid cash dividends of $100,000 and $30,000, respectively. For tax purposes, Purl receives the 100% exclusion for dividends received from Scott. There were no intercompany transactions, except for Purl's receipt of dividends from Scott and Purl's recording of its share of Scott's earnings. - Both Purl and Scott paid income taxes at the rate of 30%. In the December 31, year 2 consolidated financial statements of Purl and its subsidiary, total current assets should be