Less book value of interest acquired: Excess of fair value over book value Adjustment of identifiable accounts: The following determination and distribution of excess schedule is prepared: chases 24,000 shares of Bruce Corporation, which equates to an 80% interest, on January 1, 2015. Exercise 5 (L03) Sale of interest, alternative remaining interests. Center, Inc., pur- of excess schedule along with all Determination and Distribution of Excess Schedule Company Parent Implied Fair Price Value (80%) $1,000,000 $800,000 Fair value of subsidiary .. NCI Value (20%) $200,000 Common stock ($10 par). Retained earnings Total stockholders' equity Interest acquired $ 300,000 400,000 $ 700,000 Book value.... $700,000 80% $560,000 $240,000 $700,000 20% $140,000 $ 60,000 $ 300,000 Amortization per Year $ 5,000 Life Adjustment $ 50,000 250,000 $ 300,000 Building Goodwill Total 10 Bruce Corporation reports net income of $35,000 for the six months ended July 1, 2018. Center's simple-equity-adjusted investment balance is $864,000 as of December 31, 2017. Prepare all entries for the sale of the Brown Corporation shares on July 1, 2018, for each of the following situations: 1. 24,000 shares are sold for $890,000. 2. 12,000 shares are sold for $455,000. 3. 6,000 shares are sold for $232,500