1) On 1 July 2018 Pumba Ltd acquired 85% of the shares in Timon Ltd by issuing 520,000 shares. At the date of acquisition the share price of Pumba Ltd was $3.20 per share and the share price of Timon Ltd was $2.40 per share. The equity of Timon Ltd at 1 July 2011 consisted of the following:

Share capital $902,000

Retained earnings $550,000

All identifiable net assets of Timon Ltd were recorded at fair value except for the carrying amount of equipment which was $150,000 lower than fair value. The remaining useful life of the equipment is 5 years. The fair value of the NCI is $236,000 at the date of acquisition. The recorded profit before tax of the subsidiary at the date of acquisition is $275,000. The full goodwill method is adopted.

What is the amount of the parent goodwill and the NCI goodwill?

	a.	Parent goodwill is $429,800 and NCI goodwill is $18,200
	b.	Parent goodwill is $340,550 and NCI goodwill is $2,450
	c.	Parent goodwill is $343,000 and NCI goodwill is $0
	d.	Parent goodwill is $380,000 and NCI goodwill is $37,800