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Professor Corporation acquired 7 0 percent of Scholar Corporation's common stock on December 3 1 , 2 0 X 4 , for $ 1 0

Professor Corporation acquired 70 percent of Scholar Corporation's common stock on December 31,20X4, for $102,200. The fair value of the noncontrolling interest at that date was determined to be $43,800. Data from the balance sheets of the two companies included the following amounts as of the date of acquisition:
\table[[Item,\table[[Professor],[Corporation]],\table[[Scholar],[Corporation]]],[Cash,$50,300,$21,000
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