LO3 income for the current year before recognizing its share of Midway Company's net income. If Midway Company had net income of $90,000 for the year, what is the consolidated net income attributable to Bedford shareholders for the year? M9-23. Assigning Purchase Price in Acquisitions Jasper Company acquired 80% of Fey Company at the beginning of the current year. Jasper paid $150,000 more than the book value of Fey's stockholders' equity and determined that this excess purchase price related to intangible assets. How does the $150,000 appear on the consolidated Jasper Company balance sheet if the intangible assets acquired related to (a) patents or, alternatively, (b) goodwill? How would each scenario affect the consolidated income statement? M9-24. Interpreting a Spin-Off Disclosure ( forhan com reported the following L05 CONAGRA FOOD LO3 income for the current year before recognizing its share of Midway Company's net income. If Midway Company had net income of $90,000 for the year, what is the consolidated net income attributable to Bedford shareholders for the year? M9-23. Assigning Purchase Price in Acquisitions Jasper Company acquired 80% of Fey Company at the beginning of the current year. Jasper paid $150,000 more than the book value of Fey's stockholders' equity and determined that this excess purchase price related to intangible assets. How does the $150,000 appear on the consolidated Jasper Company balance sheet if the intangible assets acquired related to (a) patents or, alternatively, (b) goodwill? How would each scenario affect the consolidated income statement? M9-24. Interpreting a Spin-Off Disclosure ( forhan com reported the following L05 CONAGRA FOOD