Financial statements of Dark Pearl Corp. and its subsidiary Laser Sight Inc. on December 31, 2019 are shown below. On January 1, 2019, Dark Pearl acquired 1500 common shares of Laser Sight for $225,000 cash.

REQUIRED:

a) Calculate goodwill at acquisition date, January 1, 2019.

b) Calculate the non-controlling interest at December 31, 2019.

Cash Accounts Receivable Inventories Land Plant and equipment (net) Investment in Laser Sight BALANCE SHEET As at December 31, 2019 Dark Pearl $140,000 90,000 55,000 20,000 220,000 225,000 $750,000 Laser Sight $ 1,000 85,000 48,000 70,000 400,000 == $604,000 $ 92,000 33,000 Accounts Payable Accrued Liabilities Long-term liabilities Preferred Stock Common Stock Retained Earnings $ 50,000 10,000 30,000 100,000 250,000 164,000 $604,000 450,000 175,000 $750,000 THER INFORMATION: OTHER INFORMATION: 1. On January 1, 2019, the balance sheet of Laser Sight showed the following shareholders' equity: $6 Preferred shares, cumulative, redeemable at $108 per share Issued and outstanding 1,000 shares $100,000 Common shares, (2,000 shares) 250,000 Deficit (note 1) (75,000) $275.000 Note 1: Dividends on preferred shares are two years in arrears at January 1, 2019. 2 There were no dividends in arrears at December 31, 2019 2. The fair market values of Laser Sight's net assets differ from carrying values as follows: Accounts receivable overstated by $2,000 Inventory understated by $10,000 Plant (5 yr life) understated by $75,000 Long-term liabilities understated by $5,000 (Matures Dec. 31, 2023)