Consolidated Financial Statements—Balance Sheet Ecotec Inc. purchased 70% of the outstanding common stock of Beatrix Co. on January 1, 2007, paying $875,000. On that day, the balance sheets of the two companies immediately after the purchase are as follows:

1. Compute the amount that will be disclosed on the consolidated balance sheet as “Minority Interest.”
2. Prepare a consolidated balance sheet as of January 1, 2007.

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(in thousands) Cash Other current assets Property, plant, & equipment Investment in Beatrix... Total assets Ecotec $ 410 Beatrix $ 260 1,240 850 1,875 1,100 875 0 $4,260 $2,350 $1,225 $ 800 775 300 800 500 Retained earnings. 1,460 750 Total liabilities & equities $4,260 $2,350 Current liabilities Long-term liabilities Common stock