On July 1, 2015, Truman Company acquired a 70 percent interest in Atlanta Company in exchange for consideration of $829,500 in cash and equity securities. The remaining 30 percent of Atlantas shares traded closely near an average price that totaled $355,500 both before and after Trumans acquisition.

In reviewing its acquisition, Truman assigned a $127,500 fair value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years.

The following financial information is available for these two companies for 2015. In addition, the subsidiarys income was earned uniformly throughout the year. Subsidiary dividend payments were made quarterly.

	Truman			Atlanta
Revenues	$	(739,075	)	$	(479,000	)
Operating expenses		403,000			308,000
Income of subsidiary		(50,925	)
Net income	$	(387,000	)	$	(171,000	)
Retained earnings, 1/1/15	$	(915,000	)	$	(589,000	)
Net income (above)		(387,000	)		(171,000	)
Dividends declared		150,000			60,000
Retained earnings, 12/31/15	$	(1,152,000	)	$	(700,000	)
Current assets	$	514,575		$	402,000
Investment in Atlanta		859,425
Land		444,000			225,000
Buildings		715,000			713,000
Total assets	$	2,533,000		$	1,340,000
Liabilities	$	(881,000	)	$	(320,000	)
Common stock		(95,000	)		(300,000	)
Additional paid-in capital		(405,000	)		(20,000	)
Retained earnings, 12/31/15		(1,152,000	)		(700,000	)
Total liabilities and stockholders' equity	$	(2,533,000	)	$	(1,340,000	)

I am missing Atlanta's Book Value from the probem below:

a.

How did Truman allocate Atlantas acquisition-date fair value to the various assets acquired and liabilities assumed in the combination? Consideration transfered by Truman: $829,500 Noncontrolling Interest Fair Value: $355,500 Atlanta's Acquisition-Date Total Fair Value: $1,185,000 Book Value of Atalanta: (919,00)-This is what I calculate, but when I submit, it is marked incorrect Fair Value in Excess of Book Value: Excess fair value assigned: Patent: $127,500 Goodwill: TBD