Problem $4-16($Algo$)($LO $4-3,4-4,4-5)$

On January $1,2024,$ Pasture Company acquires $80\%$ of Spring Company for $$2,003,040$ in cash consideration. The remaining $20$

percent noncontrolling interest shares had an acquisition$-$date estimated fair value of $$500,760.$ Spring's acquisition$-$date total book

value was $$1,989,000.$

The fair value of Spring's recorded assets and liabilities equaled their carrying amounts. However, Spring had two unrecorded assets$-$

a trademark with an indefinite life and estimated fair value of $$286,650$ and licensing agreements estimated to be worth $$210,600$ with

four$-$year remaining lives. Any remaining acquisition$-$date fair value in the Spring acquisition was considered goodwill.

During $2024,$ Spring reported $$201,240$ net income and declared and paid dividends totaling $$58,500.$ Also in $2024,$ Pasture reported

$$409,500$ net income, but neither declared nor paid dividends.

Required:

a$.$ What amount should Pasture assign to the $20$ percent noncontrolling interest of Spring at the acquisition date?

b$.$ How much of $2024$ consolidated net income should be allocated to the noncontrolling interest?

c$.$ What amount of $2024$ dividends should be allocated to the noncontrolling interest?

d$.$ What amount of noncontrolling interest should appear in the owners' equity section of Pasture's consolidated balance sheet at

December $31,2024?$On January $1,2024,$ Pasture Company acquires $80\%$ of Spring Company for $$2,003,040$ in cash consideration. The remaining $20$ percent noncontrolling interest shares had an acquisition$-$date estimated fair value of $$500,760.$ Spring$$s acquisition$-$date total book value was $$1,989,000.$

The fair value of Spring$$s recorded assets and liabilities equaled their carrying amounts. However, Spring had two unrecorded assets$$a trademark with an indefinite life and estimated fair value of $$286,650$ and licensing agreements estimated to be worth $$210,600$ with four$-$year remaining lives. Any remaining acquisition$-$date fair value in the Spring acquisition was considered goodwill.

During $2024,$ Spring reported $$201,240$ net income and declared and paid dividends totaling $$58,500.$ Also in $2024,$ Pasture reported $$409,500$ net income, but neither declared nor paid dividends.

Required:

What amount should Pasture assign to the $20$ percent noncontrolling interest of Spring at the acquisition date?

How much of $2024$ consolidated net income should be allocated to the noncontrolling interest?

What amount of $2024$ dividends should be allocated to the noncontrolling interest?

What amount of noncontrolling interest should appear in the owners$$ equity section of Pasture$$s consolidated balance sheet at December $31,2024?$