Charlotte Inc. Purchased all the stock of Shelby Inc. on Dec. 31, 2-15. Charlotte paid $503,750 cash. Shelby will continue operate and become a subsidiary for Charlotte. The following table shows the different between the fair values and the book values of Shelbys assets and liabilities.

	Book Values		Fair Values
Computer software	$	49,800	$	112,550
Equipment		63,500		44,700
Client contracts		0		116,200
In-process research and development		0		21,000
Notes payable		(69,000)		(78,400)

At December 31, 2015, the following financial information is available for consolidation:

	Charlotte			Shelby
Cash	$	16,100		$	13,900
Receivables		163,500			40,500
Inventory		164,000			100,500
Investment in Shelby		503,750			0
Computer software		259,000			49,800
Buildings (net)		506,500			149,800
Equipment (net)		398,000			63,500
Client contracts		0			0
Goodwill		0			0
Total assets	$	2,010,850		$	418,000
Accounts payable	$	(90,600)		$	(53,000)
Notes payable		(521,250)			(69,000)
Common stock		(380,000)			(100,000)
Additional paid-in capital		(170,000)			(25,000)
Retained earnings		(849,000)			(171,000)
Total liabilities and equities	$	(2,010,850)		$	(418,000)

1. What is the book value?

2.What is Goodwill, if any?

3. complete the consolidation balance sheet for Charlotte Company and Shelby for Dec. 31, 2015.