The following balances were taken from the records of Sheridan Company: Common stock (1/1/20 and 12/31/20) $724,100 Retained earnings 1/1/20 $162,700 Net income for 2023 183,500 Dividends declared in 2023 (43,800) Retained earnings, 12/31/20 302,400 Total stockholders' equity on 12/31/20 $1,026,500 Windsor Company purchased 75% of Sheridan Company's common stock on January 1, 2021 for $901,200. The difference between implied value and book value is attributable to assets with a remaining useful life on January 1, 2023 of ten years. (a) Compute the difference between cost/(implied) and book value applying: 1. Parent company theory. 2. Economic unit theory. Difference 1. Parent company theory $ 2. Economic unit theory $