Par inc purchased 70.57% of Sub Corp's total outstanding voting shares for 5275.447 on January...
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Par inc purchased 70.57% of Sub Corp's total outstanding voting shares for 5275.447 on January 1, Year 3. The carrying value of Sub's identifiable net assets was $236,096 on that date. All of Sub's assets and liabilities had their fair values and carrying values the same, except for a Patent whose fair value was 539,347 higher on the date of acquisition. On the next day, Par sold 9.33% of its Sub shares on the open market for 545.451. What is the amount of the gain or loss. on the sale of the shares on the next day? a. $19,258 b. 520,246 c. 518,764 d. 518,270 e. 519.752
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