On January 1, 20X9, Gulliver Corporation acquired 80 percent of Sea-Gull Company's common stock for $160,000 cash. The fair value of the noncontrolling interest at that date was determined to be $40,000. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:

	Gulliver Corp.		Sea-Gull Corp.
Cash	$ 60,000		$ 20,000
Accounts Receivable	80,000		30,000
Inventory	90,000		40,000
Land	100,000		40,000
Buildings and Equipment	200,000		150,000
Less: Accumulated Depreciation	(80,000)		(50,000)
Investment in Sea-Gull Corp.	160,000
Total Assets	$ 610,000		$ 230,000
Accounts Payable	$ 110,000		$ 30,000
Bonds Payable	95,000		40,000
Common Stock	200,000		40,000
Retained Earnings	205,000		120,000
Total Liabilities and Equity	$ 610,000		$ 230,000

At the date of the business combination, the book values of Sea-Gull's net assets and liabilities approximated fair value except for inventory, which had a fair value of $45,000, and land, which had a fair value of $60,000.

28. Based on the preceding information, what amount will be reported as noncontrolling interest in the consolidated balance sheet prepared immediately after the business combination? A. $0 B. $15,000 C. $40,000 D. $46,000

29. Based on the preceding information, what amount of consolidated retained earnings will be reported immediately after the business combination? A. $205,000 B. $120,000 C. $325,000 D. $310,000

30. Based on the preceding information, what amount will be reported as total stockholders' equity in the consolidated balance sheet prepared immediately after the business combination? A. $445,000 B. $205,000 C. $565,000 D. $550,000