Question: Please show the computations On January 1, 20X7 , Pisa Company acquired 80 percent of Siena Company by purchasing 40,000 shares of Siena's common stock.

On January 1, 20X7 , Pisa Company acquired 80 percent of Siena

Please show the computations

Company by purchasing 40,000 shares of Siena's common stock. There was no

On January 1, 20X7 , Pisa Company acquired 80 percent of Siena Company by purchasing 40,000 shares of Siena's common stock. There was no differential related to this transaction. The noncontrolling interest had a fair value equal to 20 percent of book value. The book value of Siena on December 3 1, 20X7 was as follows: Common Stock ($10 par value) Retained Earnings Total s s 500,000 350,000 850,000 On January 1, 20X8, Pisa purchased an additional 12,500 shares directly from Siena for $25 per share.

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