On January 1, 2020, Darcy acquired a 60% interest in Sutton Manufacturing, Inc. Darcy paid for the transaction with $3 million cash and 500,000 shares of Darcy common stock (par value $1.00 per share). At the time of the acquisition, Sutton's book value was $14,970,000.

On January 1, Darcy stock had a market value of $16.00 per share and there was $400,000 control premium in this transaction. Any consideration transferred over book value is assigned to goodwill. Sutton had the following balances on January 1, 2020.

	Book	Fair
	Value	Value
Land	$1,700,000	$2,550,000
Buildings (seven-year remaining life)	2,700,000	3,400,000
Equipment (five-year remaining life)	3,700,000	3,300,000

For internal reporting purposes, Darcy employed the equity method to account for this investment.

Prepare a schedule to determine goodwill, and the amortization and allocation amounts.

		Controlling	Noncontrolling		Annual
	Total	Interest share	Interest Share	Life	Amortization
Consideration transferred for Sutton
Book value
Fair value in excess of book value
Excess cost assigned to specific
accounts based on fair values
Land
Buildings
Equipment
Goodwill