Consolidation Eliminating Entries, Date of Acquisition and Two Years Later Plaza Hotels acquired a 90 percent interest in Stardust Casinos on January 1, 2023, for $51,100,000. The fair value of the 10 percent noncontrolling interest at the date of acquisition was $2,900,000. Stardust's date-of- acquisition reported net assets were carried at amounts approximating fair value, except for these items: Plant and equipment, 10-year life, straight-line, was overvalued by $6,000,000. Previously unrecorded limited-life identifiable intangibles, 4-year life, straight-line, were valued at $8,000,000. Stardust's equity accounts at the date of acquisition were as follows: Capital stock.. Retained earnings Accumulated other comprehensive income Total ..... pg. 229 $ 300,000 1,650,000 50,000 $2,000,000 Stardust reports net income of $4,000,000 and other comprehensive loss of $10,000 for 2024. Stardust reported net income of $2,800,000 and other comprehensive income of $25,000 in 2023. Stardust did not declare any dividends in either year. Goodwill from this acquisition is impaired by $200,000 during 2024, but was not impaired in 2023. Required a. Calculate the original goodwill for this acquisition and its allocation to controlling and noncontrol- ling interests. In what ratio is goodwill allocated between controlling and noncontrolling interests? b. Prepare the consolidation eliminating entries (E) and (R) at the date of acquisition.