Plaza corporation purchased 70 percent of square company's voting common stock on january 1, 20x5, for $294,000. on that date, the noncontrolling interest had a fair value of $126,000 and the book value of square's net assets was $384,000. the book values and fair values of square's assets and liabilities were equal except for land that had a fair value $14,000 higher than book value. the amount attributed to goodwill as a result of the acquisition is not amortized and has not been impaired. on january 1, 20x9, plaza's inventory contained $50,000 of unrealized intercompany profits recorded by square. square's inventory on that date contained $15,000 of unrealized intercompany profits recorded on plaza’s books. both companies sold their ending 20x8 inventories to unrelated companies in 20x9. during 20x9, square sold inventory costing $37,000 to plaza for $62,000. plaza held all inventory purchased from square during 20x9 on december 31, 20x9. also during 20x9, plaza sold goods costing $75,000 to square for $125,000. square continues to hold $42,500 of its purchase from plaza on december 31, 20x9. assume plaza uses the fully adjusted equity method.