When Jolt Co. acquired 75% of the common stock of Yelts Corp., Yelts owned land with a book value of $70,000 and a fair value of $100,000. 22. What amount should have been reported for the land in a consolidated balance sheet at the acquisition date? A. $52,500. B. $70,000. C. $75,000. D. $92,500. E. $100,000. 23. What is the total amount of excess land allocation at the acquisition date? A. $0. B. $30,000. C. $22,500. D. $25,000. E. $17,500