Question: On January 3 , 2 0 X 5 , Pine Company acquired 7 5 percent of Sap Company's outstanding common stock for cash. The fair

On January 3,20X5, Pine Company acquired 75 percent of Sap Company's

On January

3, 20

5,

Pine Company acquired

75

percent of Sap 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 Sap Company's net assets at the date of acquisition. Selected balance sheet data at December

31, 20

5,

are as follows:

\

table

[[,

Pine,Sap

], [

Total Assets,$

504, 000,

216, 000

outstanding common stock for cash. The fair value of the noncontrolling interest

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