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13 Top Corporation acquired 100% of Sun Corporation's common stock on December 31,20x2. Balance sheet data for the two companies immediately following the acquisition TOP ut of SUN Cash $ 49,000 $ 30,000 Accounts Receivable Jestion 110,000 45,000 Inventory 130,000 70,000 Land 80,000 25,000 Buildings & Equipment 277,000 235,000 Investment in Sun Corporation 198,000 Total Assets $844,000 $405,000 Accounts Payable $ 61,500 $ 28,000 Taxes Payable 95,000 37,000 Bonds Payable 280,000 200,000 Common Stock 150,000 50,000 Retained Earnings 257,500 90,000 Total $844,000 $405,000 At the date of the business combination, the book values of Sun's net assets and liabilities approximated fair value except for inventory, which had a fair values 85,000 and land, which had a fair value of total stockholders' equity$45,000 .For each question. indicate the total stockholders' equity that should appear in the consolidated balance sheet prepared immediately after the business combination? Select one: a. 1,249,000 b. 547,500 c. 407,500 d. 844,000 in 4 PCO owns a 90% interest in S Co, purchased at a time when the book values of S recorded assets and liabilities were equal to fair values. During 2014, S sold merchandise to P cost 32,000 for $40,000. At December 31, 2014, 75% of this merchandise is still in P inventory. Separate incomes for P&S are summarized as follows: ut of P s question Sales $900,000 $200,000 Cost of sales 400,000 100,000 Gross profit 500,000 100,000 Operating expenses 200,000 80,000 Separate income $300,000 $ 20,000 of NCI in Net Income reported in Consolidated income statement? What is amount Select one: a. 1,800 b. 2,000 C. 1,200 d. 1,400

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