Pillow Company is purchasing an 80% interest in the common stock of Sleep Company. Sleep’s balance sheet amounts at book and fair value are as follows:
|
Account |
Book Value |
Fair Value |
|
Current assets |
$200,000 |
$250,000 |
|
Fixed assets |
350,000 |
800,000 |
|
Liabilities |
200,000 |
200,000 |
What will be the amount of the noncontrolling interest in the consolidated balance sheet, and how will it be displayed in the consolidated balance sheet?