b. Barns Company acquires all 8,000 outstanding shares of Elcam Company stock on January 1, 2015, for $600,000. On January 1, 2016, Elcam Company issues through a private sale 2,000 additional shares...

b. Barns Company acquires all 8,000 outstanding shares of Elcam Company stock on January 1, 2015, for $600,000. On January 1, 2016, Elcam Company issues through a private sale 2,000 additional shares to new noncontrolling shareholders at $85 per share. Barns has no investments other than the stock of Webo and Elcam.