On 1/1/2017 Starr Co. acquired 60% of the common stock of Best Inc. for $1,200,000. The fair value of Best's net assets at that time was $1,800,000, and these net assets had a book value of $1,500,000. The non-controlling interest shares of Best Inc. are not actively traded and the best basis to determine fair value of the non controlling interest would be Starr Co.s purchase. For the year 2017, Best Inc. earned $250,000 net income and paid dividends of $100,000.

What is the dollar amount of non-controlling interest that should appear in a consolidated balance sheet prepared at the date of acquisition 1/1/2017? SHOW WORK TO SUPPORT YOUR ANSWER.

What is the total amount of goodwill, if any, recognized at the date of acquisition that would be reported in consolidated financial statements? SHOW WORK IN SUPPORT OF YOUR ANSWER.

What is the non controlling interests share of Best Inc. income for 2017? SHOW WORK IN SUPPORT OF YOUR ANSWER.

What is the balance in the Non-Controlling Interest account in Consolidation at 12/31/2017?

SHOW ALL WORK IN SUPPORT OF YOUR ANSWER.