On 1/1/2016, California Corporation purchased 75% of the outstanding voting stock of San Diego Corporation for $2,400,000 paid in cash.On the date of the acquisition, San Diego's shareholders' equity consisted of the following:

Common stock, $10 par$1,000,000

APIC600,000

Retained Earnings800,000

Total SE$2,400,000

The excess fair value of the net assets acquired was assigned 10% to undervalued Inventory (sold in 2016), 40% to undervalued PPE assets with a remaining useful life of 8 years, and 50% to Goodwill.

Comparative trial balances of California Corporation and San Diego Corporation at December 31, 2020, are as follows:

California San Diego

Other assets - net 3,765,000 2,600,000

Investment in San Diego 2,340,000 -

Expenses (including cost of sales) 3,185,000 600,000

Dividends 500,000 200,000

Total 9,790,000 3,400,000

Common Stock, $10 par value (3,000,000) (1,000,000)

APIC (850,000) (600,000)

Retained earnings (1,670,000) (800,000)

Sales revenues (4,000,000) (1,000,000)

Income from San Diego (270,000) -

Total (9,790,000) (3,400,000)

Required:

Determine the amounts that would appear in the consolidated financial statements of California Corporation and its subsidiary for each of the following items:

1.Goodwill at December 31, 2020.

2.Income to Non-controlling interest for 2020.

3.Consolidated retained earnings at December 31, 2019.

4.Consolidated retained earnings at December 31, 2020.

5.Controlling share of consolidated Net Income for 2020.

6.Non-controlling interest at December 31, 2020.