Ginger Inc. acquired 70% of Festus Co for $420,000 on April 1. Ginger earned revenues of $1,000,000 and expenses of $600,000 while Festus had revenues of $800,000 and expenses of $500,000 that occurred evenly throughout the year. On the acquisition date, Festus had the following accounts.

	Book Value	Fair Value
Current Assets	$210,000	$210,000
Buildings	$180,000	$190,000
Equipment	$290,000	$320,000
Liabilities	($280,000)	($280,000)

The buildings have a 10-year useful life and the equipment has a 3-year life. Festus has a customer list worth $140,000 that has a seven-year life but is not recorded on its general ledger. Using the above information, answer the following questions. Do NOT use any $ signs or commas in your answers.

What is the acquisition date Fair Value of the consideration for Festus Co? _______________

What is the fair value difference that is attributable to Festus Co.'s net assets at the date of acquisition? _____________

What amount would be recognized for goodwill for this acquisition? ___________

How many months would you use to calculate Festus's net income in this consolidation? _____________

What amount would appear in a consolidated income statement for the NCI of net income this year? ______________

What would be the annual fair value amortization for the customer list? __________

What amount of fair value amortization will be expensed in the year of acquisition? ____________