Question: On December 3 1 , 2 0 2 0 , Wildhorse Company purchased a controlling interest in Waterway Company for $ 1 , 2 0

On December 31,2020, Wildhorse Company purchased a controlling interest in Waterway Company for $1,200,000. The consolidated balance sheet on December 31,2020 reported noncontrolling interest in Waterway Company of $300,000.
On the date of acquisition, the stockholders' equity section of Waterway Company's balance sheet was as follows:
\table[[Common stock,$555,000
On December 3 1 , 2 0 2 0 , Wildhorse Company

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