4 HW Seved Help Save & Exit Submit 7 Problem 4-28 (Algo) (LO 4-2, 4-4, 4-5) Check my work On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $48,960 Calvin Co. has one recorded asset, a specialized production machine with a book value of $19,900 and no liabilities. The fair value of the machine is $68,400, and the remaining useful life is estimated to be 10 years. Any remaining excess fair value is attributable to an unrecorded process trade secret with an estimated future life of 4 years. Calvin's total acquisition date fair value is $81,600 At the end of the year, Calvin reports the following in its financial statements Revenues Expenses $ 58,ese 22,050 Machine Other assets $17,910 32,990 Net income Dividends paid Total assets $ 50,900 Common stock Retained earnings Total equity $19,900 11,000 $ 30,900 $ 5,000 $ 36,000 Determine the amounts that Beckman should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income, noncontrolling interest, Calvin's machine (net of accumulated depreciation), and the process trade secret Noncontrolling interest in subsidiary income Teal wwwwwnn interest c Amount < Prev 7 of 8 Next > 48F Cleare 00 12:31 AM 4/24/2022