he 2010 January 1, stockholders” equity section of Saye Company”s balance sheet follows
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Stockholders” equity: |
|
|
Paid-in capital: |
|
|
Common stock, $144 par; authorized, 200,000 |
$21,600,00 |
|
shares; issued, and outstanding, 150,000 shares |
0 |
|
Paid-in capital in excess of par value |
3,600,000 |
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Total paid-in capital |
$25,200,00 |
|
0 |
|
|
Retained earnings |
2,160,000 |
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Total stockholders” equity |
$27,360,00 |
|
0 |
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Ninety percent of Saye Company”s outstanding voting common stock was acquired by Tim Company on 2011 January 1, for USD 24,048,000. Compute
(a) the book value of the investment, (b) the difference between cost and book value, and
(c) the minority interest.