Reference no: EM132478793

In addition to the assets identified above, Saltz owned a taxi licence in the City of Moose Jaw. This licence expires in nine years. The licences are selling in the open market at approximately $45,000. On January 1, Year 11, Percy Corp paid $200,000 in cash to acquire 8,000 (80%) of the common shares of Saltz Ltd. Saltz's shares were trading for $22 per share just after the acquisition by Percy.

	0 Percy				0
U Cash		Saltz
	$       200,000	$         4,000
Accounts receivable	50,000	14,000		Cash			4,00C
Inventory	60,000	42,000		Accounts receivable			14,00C
Plant	475,000	19Z000   Inventory					52,00C
Accumulated amortization	(125.000)	(90,000)     Plant					120,00C
Trademarks -- net		14,000	„Trademarks -- net				28,00C
	$    660,000	$   176,000(	V
							218,00C
Current liabilities	$     100,000	$      20,000           Current liabilities				$         20,000
Long-term debt	160,000	L 40,000      Long-term debt				38,000	58, OOC
Common shares	220,000	60,000         Net assets					$  160,00C
Retained earnings	180,000	56,000			0
	$     660,000	$    176,000

Required:

Question 1: Consolidated balance sheet on January 1, Year 11. base the value of the noncontrolling interest on its market value. Show the allocation of the goodwill between the controlling and non-controlling interest.