Blue S.A., a French telecommunications company, acquired a 45 percent interest in E-Minus for 65,000,000. Blue consolidates E-Minus because it has special voting rights that allow it to control E-Minus. The fair value of the noncontrolling interest at the date of acquisition was 70,000,000, and E-Minus' book value was 7,000,000. Its identifiable net assets were carried at amounts approximating fair value. One year later, E-Minus reports net income of 4,000,000, and declares and pays no dividends. Goodwill is not impaired. 

Required

a. Calculate total goodwill and the reported amount of noncontrolling interests at the date of acquisition, assuming Blue S.A. uses the IFRS alternative valuation method for noncontrolling interests.

b. Prepare the consolidation eliminating entries necessary to consolidate the trial balances of Blue and E-Minus at the end of the first year, assuming Blue uses the complete equity method to report its investment in E-Minus on its own books.