On January 1, 2007 Perk Company purchased 4,500 shares of Smile company's common stock for $90,000. Immediately after the stock acquisition, the statements of financial position of Perk and Smile appeared as follows:

Assets

Cash $61,000 $24,000

AR $48,000 $19,000

Inventory $39,000 $17,000

Investment in Smile Co. $90,000

Plant assets $132,000 $68,500

Accum. Deprec.-plat assets $(42,000) $(14,500)

Goodwill

Total $328,000 $114,000

Liabilities & Owners' Equity

Current Liabilities $15,500 $23,000

Mortgage notes payable $30,000

Common Stock. $10 par value $180,000 $60,000

Premium on Common Stock $60,000 $11,000

Retained Earnings $42,500 $20,000

Noncontrolling interest

Total $328,000 $114,000

Journalize the elimination entries at acquisition and calculate minority interest.