The St. Louis Cardinals acquired 90 percent of New Orleans Saints on January 1, 2019, for $234,000 cash. This amount is reflective of New Orleans total fair value. The Saints' stockholders equity consisted of common stock of $160,000 and retained earnings of $80,000. An analysis of New Orleans net assets revealed the following Book Value Fair Value Buildings (10-year life) $10,000 $8,000 Equipment (4-year life) 14,000 18.000 Land 5,000 12.000 Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 10 years, On the books of St. Louis Cardinals at December 31, 2020, what adjustment is necessary for Hogan's Land account? $7,000 increase $6,300 increase $7,000 decrease. $6,300 decrease. No adjustment is necessary 1 points QUESTION 28 The St. Louis Cardinals acquired 90 percent of New Orleans Saints on January 1, 2019 for $234.000 cash This amount is reflective of New Orleans' total fair value. The Saints' stockholders' equity consisted of common stock of $160,000 and retained earnings of $80,000. An analysis of New Orleans' net assets Book Value Fair Value Buildings (10-year life) revealed the following $10,000 $ 8,000 Equipment (4-year life) 14.000 18,000 Land 5.000 12.000 Any excess consideration transferred over fair value is attributable to an unamortized patent with a useful life of 10 years Proctoris sharing your screen Stop sharing The acquisition value attributable to the non-controlling inter January 1, 2019 $24.000