I've submitted this question at least five times now. Goodwill DOES NOT equal 420

On December 31, Year 1, P Company purchased 80% of the outstanding shares of S Company for $6,800 cash. The statements of financial position of the two companies immediately after the acquisition transaction appear below. P Company S Company Carrying Carrying Fair Amount Amount Value Plant and equipment $ 8,400 $ 6,700 $5,500 (net) Investment in s Company 6,800 Inventory 5,460 4,050 4,500 Accounts receivable 3,750 2,100 2,100 Cash 2,100 1,350 1,350 $ 26,510 $14,200 Ordinary shares $10,800 $ 3,300 Retained earnings 9,110 5,500 Long-term liabilities 4,200 2,300 2,300 Other current 1,500 liabilities 2,100 2,100 Accounts payable 900 1,000 1,000 $26,510 $14,200 Required: (a) Calculate consolidated goodwill at the date of acquisition under the proportionate consolidation method. Consolidated goodwill $ 360 (b) Prepare a consolidated statement of financial position in order of liquidity i.e starting with cash at the date of acquisition under each of the following: (i) Identifiable net assets method P Company Consolidated Statement of financial position December 31, Year 1 Assets Cash Accounts receivable Inventory Plant and equipment Goodwill $ $ 3,450 5,850 9,510 15,100 360 $ 34,270 $ Liabilities Accounts payable Other current liabilities Long-term liabilities 1,160 2,640 5,800 $ 9,600 Total liabilities Shareholders' equity Ordinary shares Retained earnings Non-controlling interest $ 10,500 8,370 0 18,870 28,470 $ (ii) Fair value enterprise method P Company Consolidated Statement of financial position December 31, Year 1 Assets Cash Accounts receivable Inventory Plant and equipment Goodwill $ 7,050 9,450 12,160 16,600 525 $ 45,785 $ $ Liabilities Accounts payable Other current liabilities Long-term liabilities 3,600 4,800 8,000 $ 16,400 Total liabilities Shareholders' equity Ordinary shares Retained earnings Non-controlling interest $ 12,000 15,410 1,975 29,385 45,785 $ $ (c) Calculate the current ratio and debt-to-equity ratio for P Company under the identifiable net assets (INA) method and the fair value enterprise (FVE) method. (Round "Current ratio" answers to 2 decimal places and "Debt to equity ratio" answers to 4 decimal places.) FVE INA 5.97 5.97 Current ratio Debt to equity ratio 0.2146 0.2140