An Introduction to Consolidated Financial Statements E3-5 Consolidated Balanco aset aitur Acquisition On January 1, 2014, Wins Inc. acqulred a 70 percent interest in Matt Inc. at a cost of $1,400,000. Matt Inc.'s net assets on this date were $1,500,000. During 2014, Matt Inc. reported net income of $600,000 and declared dividend of $300,000. The fair values of Matt Inc.'s net assets were equal to the book value on January 1,2014. REQUIRED 1. Calculate the goodwill that should be reported in the consolidated balance sheet on December 31,2014. 2. Calculate the noncontrolling interest that should be reported in the consolidated balance sheet at December 31, 2014. E3-6 Push-down accounting Lizzy NV acquired 100 percent of the outstanding common stock of Patricia NV by issuing 10,000 shares of $10 par common stock with a market value of $45 per share on December 31,2014. The acquisition is recorded using pushdown accounting. The balance sheet of Patricia NV on December 31, 2014 is as follows (in thousands): Book Value Fair Value