Summer Company holds assets with a fair value of $112,000 and a book value of $80,000 and liabilities with a book value and fair value of $27,000. Required: Compute the following amounts if Parade Corporation acquires 65 percent ownership of Summer: a. What amount did Parade pay for the shares if no goodwill and no gain on a bargain purchase are reported?

b. What amount did Parade pay for the shares if the fair value of the noncontrolling interest at acquisition is $43,750 and goodwill of $40,000 is reported?

c. What balance will be assigned to the noncontrolling interest in the consolidated balance sheet if Parade pays $70,850 to acquire its ownership and goodwill of $24,000 is reported?

00 8 Summer Company holds assets with a fair value of $112,000 and a book value of $80,000 and liabilities with a book value and fair value of $27,000. Required: Compute the following amounts if Parade Corporation acquires 65 percent ownership of Summer: 5 points a. What amount did Parade pay for the shares if no goodwill and no gain on a bargain purchase are reported? Skipped Acquisition price b. What amount did Parade pay for the shares if the fair value of the noncontrolling interest at acquisition is $43,750 and goodwill of $40,000 is reported? Acquisition price c. What balance will be assigned to the noncontrolling interest in the consolidated balance sheet if Parade pays $70,850 to acquire its ownership and goodwill of $24,000 is reported? Balance assigned to noncontrolling interest