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P.1 On January 1, 20X6, Pumpkin Corporation acquired 70 percent of Spice Company's common stock for S210,000 cash. The fair value of the noncontrolling interest at that date was determined to be $90,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition: Cash Accounts Receivable Inventory Land Buildings and Equipment Less: Accumulated Depreciation Investment in Spice Co. Total Assets Pumpkin Spice 50,000 15,000 70,000 25,000 30,000 20,000 150,000 80,000 250,000 200,000 -70,000 -20,000 210,000 690,000 320,000 Accounts Payable Bonds Payable Common Stock Retained Earnings Total Liabilities and Equity 40,000 150,000 300,000 200,000 690,000 10,000 40,000 90,000 180,000 320,000 At the date of the business combination, the book values of Spice's assets and liabilities approximated fair value except for inventory, which had a fair value of $30,000, and land, which had a fair value of $95,000. 1. what amount of total inventory will be reported in the consolidated balance sheet prepared immediately after the business combination? 2. what amount of goodwill will be reported in the consolidated balance sheet prepared immediately after the business combination? 3. what amount of total assets will be reported in the consolidated balance sheet prepared immediately after the business combination? prepared immediately after the business combination? 4.what amount of total liabilities will be reported in the consolidated balance sheet 5. Based on the preceding information, what amount will be reported as no controlling interest in the consolidated balance sheet prepared immediately after the business combination? 6. Based on the preceding information, what amount of consolidated retained earnings will be reported in the consolidated balance sheet prepared immediately after the business combination? 7. Based on the preceding information, what amount will be reported as total stockhok equity in the consolidated balance sheet prepared immediately after the business combination

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