Road Corporation acquired all of Conger Corporation's voting shares on January 1, 20X2, for $479,000. At that time Conger reported common stock outstanding of $92,000 and retained earnings of $147,000. The book values of Conger's assets and liabilities approximated fair values, except for land, which had a book value of $92,000 and a fair value of $112,000, and buildings, which had a book value of $230,000 and a fair value of $412,000. Land and buildings are the only noncurrent assets that Conger holds.

Required:
a.	Compute the amount of goodwill at the date of acquisition.

b.	Prepare the consolidating entry or entries required immediately following the acquisition to prepare a consolidated balance sheet. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)