Whine purchased 80% of the outstanding voting shares of Dine Inc. on December 31, 2018. The balance sheets of both companies on that date are shown below (after Whine acquired the shares): Cash WHINE $250,000 DINE $200,000 Accounts Receivable $450,000 $300,000 Inventory $500,000 $100,000 Investment in Dine Inc. $500,000 Land $140,000 Equipment (net) $460,000 $200,000 Total Assets $2,300,000 $800,000 Current Liabilities $900,000 $200,000 Bonds Payable $500,000 $100,000 $500,000 $200,000 $400,000 $300,000 $2,300,000 $800,000 Common Shares Retained Earnings Total Liabilities and Equity Also on December 31, 2018 (after the financial statements appearing above had been prepared) Chompster Inc., one of Whine's main competitors has agreed to acquire an equity interest in Dine Inc. As a result of the agreement, Dine Inc. would issue another 8,000 shares (over and above the 32,000 shares it currently has outstanding) to Chompster for $20 per share. The acquisition differential on the date of acquisition was attributed entirely to equipment, which had a remaining useful life of ten years from the date of acquisition. There were no unrealized intercompany profits on December 31, 2018.