Use the following information for questions 13 and 14 which became a subsidiary of Paulson. No goodwill was reported on this acquisition. Differences between book On January 1, 2022, Paulson Corporation purchased 75% of the outstanding common stock of Sun Company. value and fair value of the net identifiable assets of Sun Company on January 1, 2022, were limited to the following: 13. 14. The remaining useful life of the building was five years with no salvage value. Sun used straight line depreciation. Sun's cost of goods sold (FIFO) was $38,000 in 2022. Sun reported an income of 20,000 in 2023. C. d. Inventories. Building, net tam sale made at a gain at a loss a. b. C. d. Book value $ 19,000 45,000 Working paper eliminating entries for Paulson Corporation and subsidiary for the year ended December 31, 2023 (second year after business combination) included a. b. Fair value $ 18,500 40,000 a credit of $5,000 to Building a credit of $1,000 to Depreciation Expense a credit of $500 to Cost of Goods Sold a debit of $500 to Cost of Goods Sold The noncontrolling interest in net income for the year ended December 31, 2023 (second year after business combination) was $5,125 $4,875 $5,250 $5,375