On July 1, 2021, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $829,500 in cash and equity securities. The remaining 30 percent of Atlanta's shares traded closely near an average price that totaled $355,500 both before and after Truman's acquisition. In reviewing its acquisition, Truman assigned a $127,500 fair value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years. The following financial information is available for these two companies for 2021. In addition, the subsidiary's income was earned uniformly throughout the year. The subsidiary declared dividends quarterly. Truman Revenues $ (739,075) $ Operating expenses 403,000 Atlanta (479,000) 308,000 Income of subsidiary Net income Retained earnings, 1/1/21 Net income (above) Dividends declared (50,925) $ (387,000) $ (171,000) $ (915,000) $ (589,000) (387,000) (171,000) 150,000 60,000 Retained earnings, 12/31/21 $ (1,152,000) $ (700,000) Land Current assets Investment in Atlanta Buildings $ 514,575 $ 402,000 859,425 444,000 225,000 715,000 713,000 Total assets $ 2,533,000 $ 1,340,000 Liabilities Common stock Additional paid-in capital Retained earnings, 12/31/21 $ (881,000) $ (320,000) (95,000) Total liabilities and stockholders' equity (405,000) (1,152,000) $ (2,533,000) (300,000) (20,000) (700,000) $ (1,340,000) a. What is the excess fair-value assigned to patent and goodwill? b. How did Truman allocate the goodwill from the acquisition across the controlling and noncontrolling interests? c. How did Truman derive the Investment in Atlanta account balance at the end of 2021? d. Prepare a worksheet to consolidate the financial statements of these two companies as of December 31, 2021. At year- end, there were no intra-entity receivables or payables