Problem $3($recommended: Review slides $42-58)$

Hoyle, Schaefer and Doupnik $-$ Chapter $3$ Problem $20$

Chapman Company obtains $100\%$ of Abernethy Company's stock on January $1,2023.$ As of that date, Abernethy has the following trial balance:

$\backslash$table$[[$Accounts$,$Balances$],[$Cash and short$-$term investment,$60,000],[$Accounts Receivable,$40,000],[$Inventory$,90,000],[$Supplies$,10,000],[$Buildings $($net$)4-$year life,$120,000],[$Equipment $($net$)5-$year life,$200,000],[$Land$,80,{000}_{?}$