On January X Pole Company acquired percent of Stick Company\'s outstanding common stock for cash. The fair value of the noncontrolling interest was equal to a proportionate share of the book value of Stick Company\'s net assets at the date of acquisition. Selected balance sheet data at December X are as follows:

Pole Stick

Total Assets                      $                            $

Liabilities

Common Stock

Retained Earnings

Total Liabilities &

Stockholders Equity         $                                 $

Based on the preceding information, what amount will Pole Company report as common stock outstanding in its consolidated balance sheet at December X

  

Answer rating: 100% (QA)

After acquiring 75 of Stick Company on January 3 20X5 Pole Company will record Stick Companys assets ... View the full answer