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Wang Inc. pald $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

image text in transcribedimage text in transcribed Wang Inc. pald $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: Required: (a) Prepare a schedule to calculate and allocate the acquisition (a) differentlal. (Negatlve amounts and amounts to be deducted should be Indlcated by a minus sign.) (b) Calculate goodwill and non-controlling Interest under the Identlfiable net assets approach. (Omit \$ sign In your response.) Goodwill under identifiable net assets approach NCI under identifiable net assets approach $ $

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