Wang Inc. paid $1,560,000 to acquire 40,000 (80%) of the outstanding shares of Brandon Ltd. on January 1, Year 5. Brandon's shares were trading for $33 per share just prior to the acquisition by Wang. The balance sheet of Wang Inc. at January 1, Year 5, was as follows: Cash Accounts receivable Inventory Property, plant, and equipment Accumulated depreciation Current liabilities Liability for warranties Common shares Retained earnings Carrying Amount Fair Value $ 75,000 $ 75,000 295,000 310,500 207,000 188,200 1,369,000 1,237,500 (320,000) $1,626,000 $ 157,500 157,500 119,000 151,600 680,000 Required (a) Prepare a schedule to calculate and allocate the acquisition differential. (b) Calculate goodwill and noncontrolling interest under the identifiable net assets approach. 669,500 $1,626,000