Considereation transferred by Truman
Noncontrolling interest fair value
Atlanta's acquisition-date total fair value
Book value of Atlanta
Fair value in excess of book value
Excess fair value assigned:
Patent
Goodwill

On July 1, 2015, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $800,450 in cash and equity securities. The remaining 30 percent of Atlanta's shares traded closely near an average price that totaled $343,050 both before and after Truman's acquisition In reviewing its acquisition, Truman assigned a $122,500 fair value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years The following financial information is available for these two companies for 2015. In addition, the subsidiary's income was earned uniformly throughout the year. Subsidiary dividend payments were made quarterly Truman Atlanta $ (459,000) Revenues Operating expenses Income of subsidiary $ (699,075) 423,000 (43,925) 309,000 Net income $ (320,000) $ (150,000) Retained earnings, 1/1/15 Net income (above) Dividends declared $ (887,000) (320,000) 150,000 $ (573,000) (150,000) 60,000 Retained earnings, 12/31/15 $(1,057,000) $ (663,000) $ 407,625 823,375 477,000 738,000 $ 441,000 Current assets Investment in Atlanta Land Buildings 282,000 683,000 Total assets $2,446,000 S 1,406,000 Liabilities Common stock Additional paid-in capital Retained earnings, 12/31/15 $ (889,000) (95,000) (405.000) (1,057,000) $ (423,000) (300,000) (20,000) (663,000) Total liabilities and stockholders' equity $(2,446,000) $(1,406,000) a. How did Truman allocate Atlanta's acquisition-date fair value to the various assets acquired and liabilities assumed in the combination