My question: Where does it state that the total amount of shares is equal to $4,000? I can solve everything else but that part.

Exercise 6 (LO 5, 6, 7) 80% purchase, alternative values for goodwill. Quail Com- pany purchases 80% of the common stock of Commo Company for $800,000. At the time of the purchase, Commo has the following balance sheet: X Assets Cash equivalents Inventory Land Building (net) Equipment (net) Total assets. $ 120,000 200,000 100,000 450,000 230,000 $1,100,000 Liabilities and Equity Current liabilities .. Bonds payable Common stock ($5 par). Paid.in capital in excess of par Retained earnings .. Total liabilities and equity $ 200,000 400,000 100,000 150,000 250,000 $1,100,000 The fair values of assets are as follows: Cash equivalents. $120,000 Inventory 250,000 Land 200,000 Building 650,000 Equipment 200,000 1. Prepare the value analysis schedule and the determination and distribution of excess schedule under three alternatives for valuing the NCI: a. The value of the NCI is implied by the price paid by the parent for the controlling interest. b. The market value of the shares held by the NCI is $45 per share. c. The international accounting option, which does not allow goodwill to be recorded as part of the NCI, is used. 2. Prepare the elimination entries that would be made on a consolidated worksheet prepared on the date of purchase under the three alternatives for valuing the NCI: a. The value of the NCI is implied by the price paid by the parent for the controlling interest. b. The market value of the shares held by the NCI is $45 per share. c. The international accounting option, which does not allow goodwill to be recorded as part of the NCI, is used. vrisht 2016 enn an learnin All Rights Reserved May rights third andior hapters)