Quoton Corporation acquired 80 percent of Tempro Companys common stock on December 31, 20X5, at underlying book value. The book values and fair values of Tempros assets and liabilities were equal, and the fair value of the noncontrolling interest was equal to 20 percent of the total book value of Tempro. Tempro provided the following trial balance data at December 31, 20X5:

Is d correct

	Debit	Credit
Cash	$	28,000
Accounts Receivable		65,000
Inventory		90,000
Buildings and Equipment (net)		210,000
Cost of Goods Sold		105,000
Depreciation Expense		24,000
Other Operating Expenses		31,000
Dividends Declared		15,000
Accounts Payable				$	33,000
Notes Payable					120,000
Common Stock					90,000
Retained Earnings					130,000
Sales					195,000
Total	$	568,000		$	568,000

Required:

a.	How much did Quoton pay to purchase its shares of Tempro?

b.	If consolidated financial statements are prepared at December 31, 20X5, what amount will be assigned to the noncontrolling interest in the consolidated balance sheet?

c.	If Quoton reported income of $143,000 from its separate operations for 20X5, what amount of consolidated net income will be reported for 20X5?

d.	If Quoton had purchased its ownership of Tempro on January 1, 20X5, at underlying book value and Quoton reported income of $143,000 from its separate operations for 20X5, what amount of consolidated net income would be reported for 20X5?