(Answered) Question -on january 1 2010 cale corp paid 1020000 to

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On January 1, 2010 Cale Corp. paid $1,020,000 to acquire Kaltop Co. Kaltop maintained separate incorporation. Cale used the equity method to account for the investment. The following information is available for Kaltop's assets, liabilities, and stockholder's equity accounts:

Book Value Fair Value

Current Assets $120,000 $120,000

Land 72,000 192,000

Building (20 yr life) 240,000 268,000

Equipment (10 yr life) 540,000 516,000

Current Liabilities 24,000 24,000

Long-Term Liabilities 120,000 120,000

Common Stock 228,000

APIC 384,000

Retained Earnings 216,000

Kaltop earned net income for 2010 of $126,000 and paid dividends of $48,000 during the year.

The 2010 total amortization of allocations is calculated to be?
In Cale's accounting records, what amount would appear on December 31, 2010 for equity in subsidiary earnings?
What is the balance in Cale's Investment in subsidiary account at the end of 2010?

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