Tracking Changes Comments Watkins, Inc. acquires all of the outstanding stock of Glen Corporation on January 1, 2017. At that date, Glen owns only three assets and has no liabilities: Book Value Fair Value Land sEquipment (10-year life) Building 20-year life 80,000 200,000 $ 40,00050,000 75,000 300,000 21) If Watkins pays $450,000 in cash for Glen, what amount would be represented as the subsidiary's Building in a consolidation at December 31, 2019, assuming the book value of the building at that date is stil $200,000? A) $285,000. B) $295,000. C) $200,000. D) $290,000. E) $300,000. 22) If Watkins pays $450,000 in cash for Glen, and Glen earns $50,000 in net income and pays $20,000 in dividends during 2017, what amount r consolidated net income for the year ended December 31, 2017? representing Glen would be reflected in A) $44,500 under the equity method. B) S50,000 under the partial equity method C) $45,500 regardless of the internal accounting method used. D) $20,000 under the initial value method E) $30,000 under the partial equity method