On January 1, 2005, Finch Corporation purchased 75% of the common stock of Grass Co. Separate balance sheet data for the companies at the combination date are given below:

Finch Grass

Cash $ 34,000 $ 206,000

Accounts Receivable 144,000 26,000

Inventory 132,000 38,000

Land 68,000 32,000

Plant assets 700,000 300,000

Accum. Depreciation ( 240,000 ) ( 60,000)

Investment in Lapp 392,000

Total assets $ 1,230,000 $ 542,000

Accounts payable $ 206,000 $ 142,000

Capital stock 800,000 300,000

Retained earnings 224,000 100,000

Total liabilities & equities $1,230,000 $ 542,000

At the date of combination, the book values of Grasss net assets were equal to the fair value except for Grasss inventory, which had a fair value of $60,000.

Determine below what the consolidated balance would be for each of the requested accounts.

1. What amount of Goodwill will be reported?

a. $10,500.

b. $20,000.

c. $42,000.

d. $75,500.

2. What is the reported amount for the non-controlling interest?

3. What is the amount of total assets?