Quoton Corporation acquired 80 percent of Tempro Company€™s common stock on December 31, 20X5, at underlying book value. The book values and fair values of Tempro€™s assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 20 percent of the total book value of Tempro. Tempro provided the following trial balance data at December 31, 20X5:

Required
a. How much did Quoton pay to purchase its shares of Tempro?
b. If consolidated financial statements are prepared at December 31, 20X5, what amount will be assigned to the noncontrolling interest in the consolidated balance sheet?
c. If Quoton reported income of $143,000 from its separate operations for 20X5, what amount of consolidated net income will be reported for 20X5?
d. If Quoton had purchased its ownership of Tempro on January 1, 20X5, at underlying book value and Quoton reported income of $143,000 from its separate operations for 20X5, what amount of consolidated net income would be reported for20X5?

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Debit Credit 28,000 65,000 90,000 Cash Accounts Receivable Inventory Buildings and Equipment (net Cost of Goods Sold Depreciation Expense Other Operating Expenses Dividends Declared Accounts Notes Payable Common Stock Retained Earnings Sales 210,000 105,000 24,000 31,000 15,000 33,000 120,000 90,000 130,000 195,000 568,000 $568,000 Payable