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Exercise 5-3 Pace Company purchased 20,000 of the 25,000 shares of Saddler Corporation for $530,600. On January 3, 2014, the acquisition date, Saddler Corporation's capital stock and retained earnings account balances were $496,400 and $101,700, respectively. The following values were determined for Saddler Corporation on the date of purchase: Inventory Other current assets Marketable securities Plant and equipment Book Value $50,200 200,200 99,200 299,200 Fair Value $69,300 200,200 126,600 324,300 Your answer is correct. Prepare the entry on the books of Pace Company to record its investment in Saddler Corporation. (If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Investment in Subsidiary 530600 Cash 530600 Prepare a Computation and Allocation Schedule for the difference between book value and the value implied by the purchase price in the consolidated statements workpaper. Parent Share Non- Controlling Share Entire Value Purchase Price and Implied Value 539300 95170 634470 x X Less : Book Value of Equity Acquired 0 0 0 IX X Difference between Implied and Book Value 337110 59490 396600 X X X Inventory 121295 21405 142700 X X T Marketable Securities 458405 80895 U 539300 X x X Plant and Equipment 80895 14275 95170 X x Balance X (21165) (3735) (24900) X x X Gain (17850) (3150) (21000) X Increase Noncontrolling Interest to Fair Value of Assets 41880 7390 49270 X X Total Allocated Bargain (41880 (7390) (49270) Balance 0 0 0