On July 1, 2024, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $762,000 in cash and equity securitles. The remaining 30 percent of Atlanta's shares traded closely near an average price that totaled $308,000 both before and after Truman's acquisition. In reviewing its acquisition, Truman assigned a $112,500 fair value to a patent recently developed by Atlanta, even though it was not recorded within the financlal records of the subsidlary. This patent is anticipated to have a remalning life of five years. The following financial information is avallable for these two companles for 2024. In addition, the subsidlary's income was eamed uniformly throughout the year. The subsidiary declared dividends quarterly. o. How did Truman allocate Attanta's acquisition-date fair value to the various assets acquired and liabilitles assumed in the combination? 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 2024 ? d. Prepare a worksieet to consolidate the financlal statements of these two companies as of December 31, 2024. At year-end, ther were no intra-entity receivables or payables. Complete this question by entering your answers in the tabs below. How did Truman allocate Atiantos acquisition-date fair value to the various astets acquired and liabilities assumed in the combination? \begin{tabular}{|l|l|c|} \hline & ControllingInterest & NoncontrollingInterest \\ \hline Goodwill & & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|c|c|c|c|} \hline Revenues & s & (742,075) & 5 & (468,000) & & & & \\ \hline Operating expenses & & 476.000 & & 314,000 & & & & \\ \hline Not income of subogilary & & (46,025) & & 0 & & & & \\ \hline Separate company not income & $ & (313,000) & 5 & (154,000) & & & & \\ \hline \multicolumn{9}{|l|}{ Consolidated net income } \\ \hline \multicolumn{9}{|c|}{ Net income atributable to noncootrolling intorest } \\ \hline \multicolumn{9}{|l|}{ Net income attributable to Truman } \\ \hline Rotained earnings, 1/1/24 & 5 & (906,000) & s & (510,000) & & & & \\ \hline Net income & & (313,000) & & (154,000) & & & & \\ \hline Divioends declared & & 160,000 & & 80,000 & & & & \\ \hline Rotanned earnings, 1231/24 & 5 & (1,059,000) & 5 & (584,000) & & & & \\ \hline Current assets & 5 & 491,975 & 5 & 404,000 & & & & \\ \hline Invostment in Alisunta & & 780,025 & & of & & & & \\ \hline Land & & 405,000 & & 241,000 & & & & \\ \hline Bulldings & & 720,000 & & 646,000 & & & & \\ \hline \multicolumn{9}{|l|}{ Patent } \\ \hline \multicolumn{9}{|l|}{ Coocowill } \\ \hline Total assets & 3 & 2,457,000 & $ & 1.291,000 & & & & \\ \hline Liabalides & s & (898,000) & 5 & (387,000) & & & & \\ \hline Cortumion stock & & (95,010) & & (300,000) & & & & \\ \hline Additional paid in capital & & (405,000) & & (20,000) & & & & \\ \hline Rotained earnings. 12/31/24 & & (1,059,000) & & (584,000) & & & & \\ \hline \multicolumn{9}{|l|}{ Noncontraling interest 7/1} \\ \hline \multicolumn{9}{|l|}{ Noncontroling inteiest 12/31 } \\ \hline Yotal tiabditiens and stockiolders equity & s & (2.457,000) & 5 & (1201,000) & is & 0 & & \\ \hline \end{tabular} \begin{tabular}{|l|l|} \hline Initial value at acquisition date & \\ \hline Equity in earnings of Atlanta & \\ \hline Dividends 2024 & \\ \hline Investment account balance 12/31/24 & $ \\ \hline \end{tabular}