Fortuna Company issued 70,000 shares of $1 par stock, with a fair value of $20 per share, for 80% of the outstanding shares of Acappella Company. The firms had the following separate balance sheets prior to the acquisition:

Book values equal fair values for the assets and liabilities of Acappella Company, except for the property, plant, and equipment, which have a fair value of $1,600,000.

Required: a. What is the Goodwill/Gain associated with the acquisition:________________________

b. What is the Non-Controlling Interest recorded in the consolidated balance sheet:______________

c. What is the balance of the assets and liabilities side of the consolidated balance sheet after the acquisition:________________

d.Record the two elimination entries associated with the acquisition of the company