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  3. statue corporation's balance sheet at january 1,20

Statue Corporation's balance sheet at January 1,207, reflected the following balances: Prize Corporation entered into...

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Accounting

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Statue Corporation's balance sheet at January 1,207, reflected the following balances: Prize Corporation entered into an active acquisition program and acquired 80 percent of Statue's common stock on January 2,20X for $442,000. The fair value of the noncontrolling interest at that date was determined to be $110,500. A careful review of the fair va of Statue's assets and liabilities indicated the following: Goodwill is assigned proportionately to Prize and the noncontrolling shareholders. Required: Compute the appropriate amount related to Statue to be included in the consolidated balance sheet immediately following the acquisition for each of the following items

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