3 years ago on January 1, 2011, Daisy Company acquired

3 years ago on January 1, 2011, Daisy Company acquired 80 percent of Rose Company for $594,000 in cash. Rose’s net book value on that date was $610,000 and the fair value of the non-controlling interest was $148,500. Rose possessed a trademark (10-year remaining life) that although unrecorded on Rose’s accounting records, had a fair value of $75,000. There were no other unrecorded assets or liabilities and the book value of the remaining assets and liabilities approximated fair value. (3 Points) Calculate the amount of total goodwill associated with the acquisition of Rose by Daisy and allocate the goodwill to Daisy and the non-controlling interest. Total Goodwill CI NCI Topic: Calculation of Equity in Income Rose had net income of $120,000 in 2013. Daisy acquired Rose so that Rose could provide Daisy with vital component parts for its production of Captain Kirk lounge chairs. At the beginning of 2013, Daisy had inventory on hand from Rose that it paid Rose $30,000 for. Rose’s cost to make that inventory was $20,000. During 2013, Daisy purchased $160,000 of inventory from Rose that cost Rose $120,000 to make. Of the inventory purchased in 2013, Daisy had $68,000 of it left unused at the end of the year. The cost to Rose to make this unused inventory was $51,000. On January 1, 2012, Daisy sold Rose several pieces of equipment that had a 10 year remaining useful life. All equipment in the controlled group is considered to have no salvage

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