Permata Tbk and its affiliate Berlian Tbk recorded goodwill of $75,000 at its consolidated financial statement year ended December 31, 2013. Permata Tbk acquired an 80 percent interest in Berlian Tbk on January 1, 2013, when its common stock was at $250,000 and retained earnings at $130,000. The fair value of net assets was equal to its book value.

Berlian Tbk had 1,000 shares of preferred stock with a callable price of $102 per share at the time of the purchase.

Subsidiary Preferred Stock, Consolidated Earnings per Share, and Consolidated Income Taxation 369 ADDITIONAL INFORMATION 1. Net income during 2013 reported by Berlian Tbk was $60,000.

2. Income from subsidiary reported by Permata Tbk was $36,000.

REQuIRED 1. Calculate the purchase price of Berlian Tbk by Permata Tbk on January 1, 2013.