Consolidated Workpaper, Equity Method Poco Company purchased 80% of Solo Companys common stock on January 1, 2012, for $250,000. On December 31, 2012, the companies prepared the following trial balances:

Poco Solo

Cash $161,500 $125,000

Inventory 210,000 195,000

Investment in Solo Company 402,000 0

Land 75,000 150,000

Cost of Goods Sold 410,000 125,000

Other Expense 100,000 80,000

Dividends Declared 30,000 15,000

Total Debits $1,388,500 $690,000

Accounts Payable $154,500 $ 35,000

Common Stock 200,000 150,000

Other Contributed Capital 60,000 35,000

Retained Earnings, 1/1 50,000 60,000

Sales 760,000 410,000

Equity in Subsidiary Income 164,000 0

Total Credits $1,388,500 $690,000

.Required: Prepare a consolidated statements workpaper on December 31, 2012. Any difference between book value and the value implied by the purchase price relates to goodwill.

Can you please provide the formula to attain the goodwill?