Question: NEED ASAP 15 mins Question 3 Patrick Corporation acquired 80 percent of the outstanding voting stock of Silver Company on January 1, 2020. No excess

NEED ASAP 15 mins

Question 3 Patrick Corporation acquired 80 percent of the outstanding voting stock of Silver Company on January 1, 2020. No excess far value over book value amortization accompanied the acquisition Patrick sell Silver a building on January 1, 2020 for $116,000, though its book value was only 568.000 on this date The building had a five year remaining ife and was to be depreciated using the straight-line method with no salvage value Assume the amount of operating expenses reported in Patrick and Silver Companys 2021 individual financial record in 196,000 and 5123,000, respectively the amount of operating expenses that would appear on consolidated financial statement for 2021 would be $291,000 $281,400 $277.400 $300,600

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