On July 1, 2017, P Company borrowed $160,000 to purchase 80% of the outstanding common stock of S Company. This loan, carrying a 12 percent annual rate, is payable in 10 annual instalments beginning July 1, 2018. Summarized portions of P Company's and S Company's statement of financial position as of June 30, 2017, are as follows:

P Company S Company

Total assets $800,000 $300,000

Total liabilities $250,000 $155,0000

Total stockholders' equity $550,000 $145,000

The book values of S Company's assets and liabilities approximated market values except for accounts payable, which had a fair value that was $5,000 more than the book value. Any remaining difference is attributable to goodwill

1. The amount to be recorded on the consolidated statement of financial position at July 1, 2017 for total assets is: __________

2. The amount to be recorded on the consolidated statement of financial position at July 1, 2017, for total assets is: __________

3. P Company acquires a controlling interest in S Company in the open market for $120,000. The $100 par value capital stock of S Company at the date of acquisition is $125,000 and its retained earnings amounts to $50,000. The market value per share of S Company is $120 per share. In the consolidated statement of financial position on the date of acquisition, non-controlling interest would show a balance of: __________