Exercise 3-14 (Algo) Noncontrolling Interest LO 3-3, 3-4 Pesto Corporation acquired 65 percent of Sauce Corporation's common stock on January 1, 20X7, for $262,600 in cash. At the acquisition date, the book values and fair values of Sauce's assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 35 percent of the total book value of Sauce. The stockholders' equity accounts of the two companies at the date of purchase are as follows: Common Stock ($10 par value) Additional Paid-In Capital Retained Earnings Pesto Corporation $ 397,000 215,000 357,000 Sauce Corporation $ 184,000 72,000 148,000 Total Stockholders' Equity $ 969,000 $ 404,000 Required: a. What amount will be assigned to the noncontrolling interest on January 1, 20X7, in the consolidated balance sheet? b. Prepare the stockholders' equity section of Pesto and Sauce's consolidated balance sheet as of January 1, 20X7. Complete this question by entering your answers in the tabs below. Required A Required B What amount will be assigned to the noncontrolling interest on January 1, 20X7, in the consolidated balance sheet? Total noncontrolling interest < Required A Required B >