On December 31, Year 1, Starlight Enterprises acquired a 90% ownership interest in Lunar Importers by purchasing 90,000 of Lunar's 100,000 voting common shares outstanding for $900,000 cash. Additional information regarding Lunar as of December 31, Year 1, follows:
Book value Fair value
Net assets $600,000 $800,000
Under U.S. GAAP, the consolidated balance sheet of Starlight Enterprises and Subsidiary would report goodwill in the amount of: