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

On January 3,20X5, Pole Company acquired 75 percent of Stick 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 Stick Company\'s net assets at the date of acquisition. Selected balance sheet data at December 31,20X5, are as follows:
Pole Stick
Total Assets                      $ 504,000                           $ 216,000
Liabilities                                  144,000                                        72,000
Common Stock                     120,000                                        60,000
Retained Earnings               240,000                                         84,000
Total Liabilities &
Stockholders Equity         $ 504,000                                $ 216,000

Based on the preceding information, what amount will Pole Company report as common stock outstanding in its consolidated balance sheet at December 31,20X5?
  

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