Equity Method, Two Consecutive Years LO 5 On January 1, 2022, Parker Company purchased 90% of the outstanding common stock of Sid Company for $180,000. At that time, Sid's stockholders' equity consisted of common stock, $120,000; other contributed capital, $20,000; and retained earnings, $25,000. Assume that any difference between book value of equity and the value implied by the purchase price is attributable to land. On December 31, 2022, the two companies' trial balances were as follows: Cash Accounts Receivable Inventory Investment in Sid Company Plant and Equipment Land Dividends Declared Cost of Goods Sold Operating Expenses Parker Sid $ 65,000 $ 35,000 40,000 30,000 25,000 15,000 184,500 -0- 110,000 85,000 48,500 45,000 20,000 15,000 150,000 60,000 35,000 15,000 M -

Equity Method, Two Consecutive Years 105 On fanuary 1, 2022, Parber Company purchased 90%6 of the outstanding common stock of sid Company for 5180,000 . At that time, Sid's stockholders' equity consisted of common stock, 5 ti20,000, other contritited capital, s70,000; and retained earmings, 575000. Assume that any difference between book value of equity and the value implied by the purchase price is attributable to land On December 3 a, aezz the two cornpanies' trial balances were as followe: Equity Method, Two Consecutive Years 105 On fanuary 1, 2022, Parber Company purchased 90%6 of the outstanding common stock of sid Company for 5180,000 . At that time, Sid's stockholders' equity consisted of common stock, 5 ti20,000, other contritited capital, s70,000; and retained earmings, 575000. Assume that any difference between book value of equity and the value implied by the purchase price is attributable to land On December 3 a, aezz the two cornpanies' trial balances were as followe: Equity Method, Two Consecutive Years 105 On fanuary 1, 2022, Parber Company purchased 90%6 of the outstanding common stock of sid Company for 5180,000 . At that time, Sid's stockholders' equity consisted of common stock, 5 ti20,000, other contritited capital, s70,000; and retained earmings, 575000. Assume that any difference between book value of equity and the value implied by the purchase price is attributable to land On December 3 a, aezz the two cornpanies' trial balances were as followe: Equity Method, Two Consecutive Years 105 On fanuary 1, 2022, Parber Company purchased 90%6 of the outstanding common stock of sid Company for 5180,000 . At that time, Sid's stockholders' equity consisted of common stock, 5 ti20,000, other contritited capital, s70,000; and retained earmings, 575000. Assume that any difference between book value of equity and the value implied by the purchase price is attributable to land On December 3 a, aezz the two cornpanies' trial balances were as followe