Problem 4-3 Wang Inc. paid $1,560,000 to acquire 40,000 (80%) of the outstanding shares of Brandon Ltd. on January 1, Year 5. Brandon's shares were trading for $33 per share just prior to the acquisition by Wang. The balance sheet of Wang Inc. at January 1, Year 5, was as follows: Carrying Amount Fair Value Cash $ 75,000 $ 75,000 Accounts receivable 295,000 310,500 Inventory 207,000 188,200 Property, plant, and equipment 1,369,000 1,237,500 Accumulated depreciation (320,000) $1,626,000 Current liabilities $ 157,500 157,500 Liability for warranties 119,000 151,600 Common shares 680,000 Retained earnings 669,500 $1,626,000 Required (a) Prepare a schedule to calculate and allocate the acquisition differential. (b) Calculate goodwill and noncontrolling interest under the identifiable net assets approach.