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he 2010 january 1 stockholders equity section of saye company s balance sheet follow 625293

he 2010 January 1, stockholders” equity section of Saye Company”s balance sheet follows

Stockholders” equity:

Paid-in capital:

Common stock, $144 par; authorized, 200,000


shares; issued, and outstanding, 150,000 shares


Paid-in capital in excess of par value


Total paid-in capital




Retained earnings


Total stockholders” equity




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.

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