Trial balance data for Parex and Eagle on December 31, 20X5 are as follows: Parflex Eagle DR CR DR CR Cash and receivables 135,000 82,000 lnve ntory...

Parflex Corporation acquired 90% of Eagle Company's outstanding common stock on January 1, 20X3 for $344,000.

At that date, the fair value of the noncontrolling interest

was $36,000. The book value of Eagle's net assets was

$324,000. At the acquisition date, the book values and fair

values of Eagle's assets and liabilities were equal, except

for Eagle's buildings and equipment, which had a carrying value and fair value of $110,000 and $128,000,

respectively. Buildings and equipment have a remaining useful life of 9 years.

1.

Calculate the fair value of Eagle Company at January 1,

20X3, the acquisition date. Show the calculation in

good accountant form (i.e. use columnar format, provide descriptions for each number, underline and double

underline numbers as appropriate).

2.

Calculate the differential. Show the calculation in good accountant form.