Complete the fair value allocation as of the purchase date (January 1, 2019). This should include the calculation of goodwill allocated to the controlling and non-controlling interests.

Jet Corp. and Nittle Inc. formed a business combination on January 1, 2019, when Jet acquired a 90% interest in Nittles common stock for $1,800,000 in cash. The book value of Nittles assets and liabilities on that day totaled $1,200,000 and the fair value of the non-controlling interest was $200,000. Since that time, Nittle has neither issued no reacquired any shares of its own stock.

Patents being held by Nittle (with a 5-year remaining life) were undervalued by $500,000 within the companys financial records. Any remaining excess fair value was attributed to goodwill. No goodwill impairments have occurred.

Acquisition-date fair value allocation and excess amortizations
Consideration transferred
NCI fair value
Subsidiary fair value at acquisition date
Acquisition-date book value
Fair value in excess of book value
Excess fair value assignments	Amount	Remaining Life	Annual Amortization
Patent
Goodwill
Goodwill Allocation	Controlling	NCI	Total
FV of Subsidiary
FV of identifiable net assets
Goodwill