On January $1,2017,$ Cale Corp. paid $$1,020,000$ to acquire Kaltop Co$.$ Kaltop maintained separate incorporation. Cale used the equity method to account for the investment. The following information is available for Kaltop's assets, liabilities, and stockholders' equity accounts on January $1,2017$:

Book Value

Fair Value

Current assets

$$120,000$

$$120,000$

Land

$72,000$

$192,000$

Building $($twenty year life$)$

$240,000$

$268,000$

Equipment $($ten year life$)$

$540,000$

$516,000$

Current liabilities

$24,000$

$24,000$

Long term liabilities

$120,000$

$120,000$

Common Stock

$228,000$

Additional paid$-$in capital

$384,000$

Retained Earnings

$216,000$

Kaltop earned net income for $2017$ of $$126,000$ and paid dividends of $$48,000$ during the year.

At the end of $2017,$ the consolidation entry to eliminate Cale$$s accrual of Kaltop$$s earnings would include a credit to Investment in Kaltop Co$.$ for

Pregunta $9$Seleccione una:

a$.$

$$124,400$

b$.$

$ $76,400.$

c$.$

$ $0.$

d$.$

$$126,000.$

e$.$

$$127,000.$