What is the amount of the gain or loss on the sale

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Question - Par Inc purchased 74.53% of Sub Corp's total outstanding voting shares for $399,703 on January 1, Year 3. The carrying value of Sub's identifiable net assets was $342,598 on that date. All of Sub's assets and liabilities had their fair values and carrying values the same, except for a Patent whose fair value was $57,090 higher on the date of acquisition. On the next day, Par sold 11.97% of its Sub shares on the open market for $65,955. What is the amount of the gain or loss on the sale of the shares on the next day?

a. $19,016

b. $19,469

c. $18,563

d. $18,111

e. $17,658

Reference no: EM133067440

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