1 On January 1, Year 5, Green Inc. paid $222,600 for 60% of the voting shares of Mansford. Green's balance sheet data on this date just prior to this acquisition were as follows: Tax Base 360,700 $ 8 00:28:27 Cash Accounts receivable Inventory Land Buildings (net) Equipment (net) Carrying Amount $ 360, 700 175,300 277, 360 333,100 258, 100 83,500 $ 1,488,060 $ 146,500 111,975 277,360 333,100 159,000 Skipped 49,800 $ 1,179,960 $ 146,500 Current liabilities Deferred tax liability Non-current liabilities Common shares Retained earnings 390,800 838,785 $ 1,488,060 The balance sheet and other related data for Mansford are as follows: MANSFORD CORP.-BALANCE SHEET At January 1, Year 5 Carrying Amount Fair Value Cash $ 57,900 $ 57,900 Accounts receivable 65,950 65,950 Inventory 131,600 148,400 Land 111,000 237,000 Buildings (net) 48,000 78,000 Equipment (net) 40,400 30,400 $ 454,850 $ 617,650 Current liabilities $ 51,015 $ 51,015 Non-current liabilities 162,600 173,000 Deferred tax liability 13,480 Common shares 112,600 Retained earnings 115,155 $ 454,850 Tax Base $ 57,900 65,950 131,600 111,000 20,400 22,800 $ 409,650 $ 51,015 162,600 Additional Information: As at January 1, Year 5, the estimated useful lives of the building and equipment were 15 years and 4 years, respectively, and the term to maturity was 10 years for the non-current liabilities. There has been no goodwill Impairment since the date of acquisition. For both companies, the income tax rate is 35%. Deferred Income taxes are recognized on the consolidated financial statement pertaining to the temporary differences arising from the acquisition differential. Required: (a) Prepare a consolidated balance sheet at January 1, Year 5. Green Inc. Consolidated Balance Sheet at January 1, Year 5 Assets Liabilities and Equity (b) Calculate goodwill and non-controlling Interest under the identifiable net assets method. (Omit $ sign in your response.) Goodwill Non-controlling interest 1A 1 (c) Not available in Connect