1) What is the total amount of goodwill recognized at the date of acquisition ?

a)$150,000 b)$250,000 c)$0 d)$120,000 e)$170,000

2) What is the dollar amount of noncontrolling interest that should appear in a consolidated balance sheet prepared at the date of acquisition ?

a)$350,000 b)$300,000 c)$400,000 d)$370,000 e)$0

Required information Perch Co. acquired 80% of the common stock of Float Corp. for $1,600,000. The fair value of Float's net assets was $1,850,000, and the book value was $1,500,000. The noncontrolling interest shares of Float Corp. are not actively traded