E5-4 Computation of Consolidated Balances a. Inventory $140,000 b. Land $ 60,000 c. Buildings and Equipment $550,000 d. Fair value of consideration given by Prize $470,000 Fair value of noncontrolling interest 117,500 Total fair value $587,500 Book value of Statue's net assets $450,000 Fair value increment for: Inventory 20,000 Land (10,000) Buildings and equipment (net) 70,000 Fair value of identifiable net assets (530,000) Goodwill $ 57,500 e. Investment in Statue Corporation: None would be reported; the balance in the investment account is eliminated. f. Noncontrolling Interest = FV of the NCI $117,500