On January 1, 2019, Parflex Corporation exchanged $344,000 cash for 90 percent of Eagle Corporation’s outstanding voting stock. Eagle’s acquisition date balance sheet follows:

On January 1, 2019, Parflex prepared the following fair-value allocation schedule:

Consideration transferred by Parflex . . . . . . . . . . . . . . . . . . . . . . . . . . $ 344,000
10% noncontrolling interest fair value . . . . . . . . . . . . . . . . . . . . . . . . . . .  36,000
Fair value of Eagle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .380,000
Book value of Eagle . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  . .324,000
Excess fair over book value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56,000
to equipment (undervalued, remaining life of 9 years) . . . . . . . . . . . . . 18,000
to goodwill (indefinite life) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .$ 38,000

The companies’ financial statements for the year ending December 31, 2021, follow:

At year-end, there were no intra-entity receivables or payables.

a. Compute the goodwill allocation to the controlling and noncontrolling interest.

b. Show how Parflex determined its “Investment in Eagle” account balance.

c. Determine the amounts that should appear on Parflex’s December 31, 2021, consolidated statement of financial position and its 2018 consolidated income statement.

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$ 15,000 $ 76,000 150,000 174,000 Cash and receivables Liabilities Inventory Property and equipment (net) 35,000 Common stock 350,000 Retained earnings $400,000 $400,000