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Date of Acquisition Consolidation Eliminating Entries Proline Company acquired 7 0 percent of Saturn Corporation s common stock for $ 1 5 0 million in

Date of Acquisition Consolidation Eliminating Entries
Proline Company acquired 70 percent of Saturn Corporations common stock for $150 million in cash and stock. The estimated fair value of the noncontrolling interest was $50 million. At the date of acquisition, Saturns book value was $30.030.000000 million, consisting of capital stock of $100,000, additional paid-in capital of $32.4 million, accumulated other comprehensive loss of $500,000, and treasury stock of $2.0 million. Saturn reports its identifiable net assets at amounts approximating fair value, with these exceptions: property is overvalued by $50 million, deferred tax liabilities resulting from the acquisition are $5 million, previously unreported identifiable intangibles have a fair value of $20 million, and Saturn has $10 million of goodwill on its books from a previous acquisition.
a. Calculate total goodwill for this acquisition and its allocation to the controlling and noncontrolling interests. PLEASE HELP ME SOLVE THIS!
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