1) On January 1, 2017, Grand Haven, Inc., reports net assets of $912,700 although equipment (with a four-year remaining life) having a book value of $514,000 is worth $576,500 and an unrecorded patent is valued at $43,200. Van Buren Corporation pays $814,720 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2018?

2) Jordan, Inc., holds 75 percent of the outstanding stock of Paxson Corporation. Paxson currently owes Jordan $625,000 for inventory acquired over the past few months. In preparing consolidated financial statements, what amount of this debt should be eliminated?

3) Amie, Inc., has 175,000 shares of $1 par value stock outstanding. Prairie Corporation acquired 52,500 of Amies shares on January 1, 2015, for $105,000 when Amies net assets had a total fair value of $405,350. On July 1, 2018, Prairie bought an additional 105,000 shares of Amie from a single stockholder for $4 per share. Although Amies shares were selling in the $3 range around July 1, 2018, Prairie forecasted that obtaining control of Amie would produce significant revenue synergies to justify the premium price paid. If Amies identifiable net assets had a fair value of $548,250 at July 1, 2018, how much goodwill should Prairie report in its postcombination consolidated balance sheet?

4) On April 1, Pujols, Inc., exchanges $545,750 fair-value consideration for 70 percent of the outstanding stock of Ramirez Corporation. The remaining 30 percent of the outstanding shares continued to trade at a collective fair value of $200,550. Ramirezs identifiable assets and liabilities each had book values that equaled their fair values on April 1 for a net total of $592,500. During the remainder of the year, Ramirez generates revenues of $688,000 and expenses of $371,000 and declared no dividends. On a December 31 consolidated balance sheet, what amount should be reported as noncontrolling interest?