Hoyle, Schaefer and Doupnik Chapter4 Problem 17-21On January 1, Park Corporation and Strand Corporation had condensed balance sheets as follows:

	Park	Strand
Current Assets	$70,000	$20,000
Noncurrent Assets	90,000	40,000
Total Assets	$160,000	$60,000
Current Liabilities	$30,000	$10,000
Long-term Debt	50,000
Stockholders' equity	80,000	50,000
Total Liabilities & equities	$160,000	$60,000

On January 2, Park borrowed $60,000 and used the proceeds to obtain 80% of the outstanding common shares of Strand. The acquisition price was considered proportionate to Strands total fair value. The $60,000 debt is payable in 10 equal annual principal payments, plus interest beginning on December 31. The excess fair value of the investment over the underlying book value of the acquired net assets is allocated to inventory (60%) and to goodwill (40%).

1) What is the goodwill at the acquisition date? (Provide calculation here)

2) What is the proportion of goodwill assigned to NCI? (Provide calculation here)