1. Penny Corporation, a U.S. corporation, acquired 85% of Sawyer Company’s common stock for $216,000 in cash on January 1, 2023. At that date, Sawyer had $145,000 of reported net assets (book value). These reported net assets were fairly stated, except land was overvalued by $13,000, unrecorded licensing agreements were valued at $26,000 and unrecorded favorable location was valued at $12,000. The estimated fair value of the noncontrolling interest is $30,000 at the acquisition date.
2. 
   
3. Calculate total goodwill and its allocation to the controlling and noncontrolling interests.