Summer Company holds assets with a fair value of $120,000 and a book value of $90,000 and liabilities with a book value and fair value of $25,000.

Required

Compute the following amounts if Parade Corporation acquires 60 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 $54,000 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 $73,200 to acquire its ownership and goodwill of $27,000 is reported?