Consolidated Balance Sheet, Date of Acquisition: U.S. GAAP and IFRS Microsoft Corpo- ration acquired 90 percent of the outstanding common stock of Powerline Technologies for $3,000,000 cash plus 200,000 shares of Microsoft's $10 par value common stock having a market value of $80 per share. Immediately prior to the acquisition, the trial balances of the two companies were as follows Dr (Cr) Microsoft Powerline $10,000,000 35,000,000 (5,000,000) $2,000,000 7,000,000 (1,500,000) (3,000,000) (100,000) (1,450,000) (3,000,000) 50,000 (3,000,000) (5,600,000) (11,000,000) (400,000) Accumulated other comprehensive (income) loss . . . . . . . . . . . . . . . A review of the fair values of Powerline's assets indicates that current assets are overvalued by $500,000 plant and equipment is overvalued by $6,000,000, and previously unrecorded brand names have a fair value of $3,000,000. The fair value of the noncontrolling interest is $1,800,000 Required a. Calculate total goodwill and its allocation to the controlling and noncontrolling interests, following U.S. GAAP b. Prepare a working paper to consolidate the balance sheets of Microsoft and Powerline at the date of acquisition, following U.S. GAAP