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Protrade Corporation acquired 7 0 percent of the outstanding voting stock of Seacraft Company on January 1 , 2 0 2 3 , for $

Protrade Corporation acquired 70 percent of the outstanding voting stock of Seacraft Company on January 1,2023, for $542,500 in cash and other consideration. At the acquisition date, Protrade assessed Seacraft's identifiable assets and liabilities at a collective net fair value of $775,000, and the fair value of the 30 percent noncontrolling interest was $232,500. No excess fair value over book value amortization accompanied the acquisition.
The following selected account balances are from the individual financial records of these two companies as of December 31,2024:
\table[[Items,Protrade,Seacraft],[Sales,$890,000,$610,000
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