Accounting

Watch & Chapter 4 Homework 0 ' References Help Saveluixlt '5 Submit: Check my work On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $43,020. Calvin Co. has one recorded asset, a specialized production machine with a book value of $10,000 and no liabilities. The fair value of the machine Is $58,500, 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 $71,700. At the end of the year, Calvin reports the following in its nancial statements: Revenu 1 $ 58 , 05!! machine 77 N W V Astock r $ 10 , 000 Expenses 22:050 other assets 32,000 Retained earnings 31'000 Net: income 5 36,000 Total assets $411000 Total equity 5 411000 Dividends paid $ 5.000 m.,_.. Determine the amounts that Beckman should report in its year-end consolidated nancial 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 , Total nonconlrolling interest Process trade secret