![Required information<br>[The following information applies to the questions displayed below.]<br>On January 1, Park Corporation and Strand Corporation had condensed balance<br>sheets as follows:<br>Park<br>Strand<br>$ 116,000<br>$ 31,300<br>49,200<br>Current assets<br>Noncurrent assets<br>107,500<br>Total assets<br>$ 223,500<br>$ 80,500<br>$ 52,500<br>66,000<br>105,000<br>Current liabilities<br>$ 30,500<br>Long-term debt<br>Stockholders' equity<br>50,000<br>Total liabilities and equities<br>$ 223,500<br>$ 80,500<br>On January 2, Park borrowed $70,400 and used the proceeds to obtain 80 percent<br>of the outstanding common shares of Strand. The acquisition price was considered<br>proportionate to Strand's total fair value. The $70,400 debt is payable in 10 equal<br>annual principal payments, plus interest, beginning December 31. The excess fair<br>value of the investment over the underlying book value of the acquired net assets<br>is allocated to inventory (60 percent) and to goodwill (40 percent).<br>On a consolidated balance sheet as of January 2, what should be the amount for current<br>liabilities?<br>](https://s3.us-east-1.amazonaws.com/storage.unifolks.com/qimg-008/008_38fgy50-umuwf5uy.png)
Extracted text: Required information [The following information applies to the questions displayed below.] On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows: Park Strand $ 116,000 $ 31,300 49,200 Current assets Noncurrent assets 107,500 Total assets $ 223,500 $ 80,500 $ 52,500 66,000 105,000 Current liabilities $ 30,500 Long-term debt Stockholders' equity 50,000 Total liabilities and equities $ 223,500 $ 80,500 On January 2, Park borrowed $70,400 and used the proceeds to obtain 80 percent of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strand's total fair value. The $70,400 debt is payable in 10 equal annual principal payments, plus interest, beginning December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60 percent) and to goodwill (40 percent). On a consolidated balance sheet as of January 2, what should be the amount for current liabilities?
Extracted text: Multiple Choice $83,000. $52,500. $90,040. $113,500.