** Use the following information to answer the next 3 questions ** Corp. acquired one hundred percent (100%) of Jones Inc. on January 1, 20x1, at a price in excess of the subsidiary's fair value. On that date, Parrett's equipment (ten-year life) had a book value of $360,000 but a fair value of $480,000. Jones had equipment (ten-year life) with a book value of $240,000 and a fair value of $350,000. Parrett used the full equity method to record its investment in Jones. On December 31, 20x3, Parrett had equipment with a book value of $250,000 and a fair value of $400,000. Jones had equipment with a book value of $170,000 and a fair value of $320,000. What is the consolidated balance for the Equipment account as of January 1, 20x1 immediately after business combination? Select one: a. $710,000. b. $720,000. c. $600,000. d. $830,000. ** Same information as above ** What is the consolidated balance for the Equipment account as of December 31, 20x3? Select one: a. $537,000. b. $508.000. c. $497,000. d. $387,000. ** Same information as above ** In 20x2, Corp. reported depreciation expenses of $ 36,000 and Jones reported $20,000 depreciation expenses for their individual equipment respectively. What is the consolidated deprecation expenses? Select one: a. $67,000. b. $68,000 c. $56,000. d. $89,000