Supernova Company had the following summarized balance sheet on December 31, 20X1:

Assets Accounts receivable $ 200,000

Inventory 450,000.

Property and plant (net) 600,000

Goodwill 150,000

Total $1,400,000

Liabilities and Equity

Notes payable - $ 600,000

Common stock - $5 par 300,000

Paid-in capital in excess of par - 400,000

Retained earnings 100,000

Total $1,400,000

The fair value of the inventory and property and plant is $600,000 and $850,000, respectively. Required: a. Assume that Redstar Corporation purchases 100% of the common stock of Supernova Company for $1,800,000. What value will be assigned to the following accounts of the Supernova Company when preparing a consolidated balance sheet on December 31, 2016?

(1) Inventory _________

(2) Property and plant _________

(3) Goodwill _________

(4) Non-controlling interest _________

b. Prepare a valuation schedule

c. Prepare a supporting determination and distribution of excess schedule.