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Padre, trio, buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2015, for 3785.440 cash. At the acquisition date, Sierra's total fair value, including the noncontrolling Interest, was assessed at $956,800 although Sierra's book value was only $694,000. Also, several individual toms on Sion's financial records had fair values that differed from their book values o follow Book Value For Vio $ 63,200 $ 241.200 Land Buildings and equipment (10 year remaining) Copyright (20-year de) Notes payable (due in 3 years) 365,000 150,000 (208,000) 331,000 261.000 (191,200) For internal reporting purposes, Padre, Inc employ the equity method to count for this investment, The Following account balances are for the year ending December 31, 2015, for both companies Patte Si Revues S(1.490,840) (68150) Cost of goods sold 750,000 445,000 Depreciation expense 330,000 12.400 0 Amortization expensie 7.050 47 400 9000 Interest expense Equity in income of Stora (165.760) Not income 5 (510,000) 5 (211.000) Red caring 1/1/15 Net (bove) Cividande declared (1,332.500 (510.000) 200.000 534000) (211.000) 65.000 5( 1.500 5.000.000) Retainedcami 12/31/15 Padre, trio, buys 80 percent of the outstanding common stock of Sierra Corporation on January 1, 2015, for 3785.440 cash. At the acquisition date, Sierra's total fair value, including the noncontrolling Interest, was assessed at $956,800 although Sierra's book value was only $694,000. Also, several individual toms on Sion's financial records had fair values that differed from their book values o follow Book Value For Vio $ 63,200 $ 241.200 Land Buildings and equipment (10 year remaining) Copyright (20-year de) Notes payable (due in 3 years) 365,000 150,000 (208,000) 331,000 261.000 (191,200) For internal reporting purposes, Padre, Inc employ the equity method to count for this investment, The Following account balances are for the year ending December 31, 2015, for both companies Patte Si Revues S(1.490,840) (68150) Cost of goods sold 750,000 445,000 Depreciation expense 330,000 12.400 0 Amortization expensie 7.050 47 400 9000 Interest expense Equity in income of Stora (165.760) Not income 5 (510,000) 5 (211.000) Red caring 1/1/15 Net (bove) Cividande declared (1,332.500 (510.000) 200.000 534000) (211.000) 65.000 5( 1.500 5.000.000) Retainedcami 12/31/15

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