Tom Company paid $10,000,000 for 80% of the voting stock of Brad Company on January 1, 2011. It is now December 31, 2018. Tom accounts for its investment using the equity method. Brads stockholders equity at the date of acquisition was $6,000,000 ($2,000,000 capital stock, $4,000,000 retained earnings). The estimated fair value of the non-controlling interest in Brad Company at the date of acquisition is $2,400,000. As of the date of acquisition:

Plant & equipment	Overvalued by $3,000,000	20-year life, straight-line
Identifiable intangibles	Undervalued by $5,500,000	10-year life, straight-line
Long-term debt	Undervalued by $100,000	5-year life, straight-line
Goodwill		Impairment: $625,000 in total for 2011-2017; $50,000 for 2018

Note: The impairment in goodwill is distributed between controlling and non-controlling interest based on the percentage of goodwill each of them gets (for example, if the non-controlling interest gets 5% of the entire goodwill, they also get 5% of the impairment).

The 2018 pre-closing trial balances for Tom and Brad are:

(in thousands)	Tom Co.	Brad Co.
	Dr (Cr)	Dr (Cr)
Sales revenue	(35,000)	(20,000)
Equity in net income of Brad	(359)
Cost of goods sold	29,000	14,000
Other operating expenses	5,700	5,100
Net Income	(659)	(900)
Current assets	20,000	6,000
Plant & equipment, net	55,000	29,700
Investment in Brad	12,327
Total Assets	87,327	35,700
Current liabilities	(15,000)	(6,000)
Long-term debt	(20,000)	(17,000)
Capital stock	(30,000)	(2,000)
Retained earnings, Jan. 1	(21,768)	(10,000)
Net Income	(659)	(900)
Dividends	100	200
Total Liabilities and Equity	(87,327)	(35,700)

Required:

1. Determine the Goodwill assigned to Non-controlling interest at the acquisition date. (2 points)
2. Prepare supporting amortization of ECOBV schedule for 2018 and verify the equity in income balance for 2018, as reported on Toms separate income statement. (3 points)
3. Calculate the balance of NCI at December 31, 2018. Provide detail calculations. (5 points)
4. Complete a consolidated worksheet as of December 31, 2018. (15 points).