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

On January $1,2024,$ Pasture Company acquires $80\%$ of Spring Company for $$1,746,240$ in cash consideration. The remaining $20$ percent noncontrolling interest shares had an acquisition$-$date estimated fair value of $$436,560.$ Spring's acquisition$-$date total book value was $$1,734,000.$

The fair value of Spring's recorded assets and liabilities equaled their carrying amounts. However, Spring had two unrecorded assetsa trademark with an indefinite life and estimated fair value of $$249,900$ and licensing agreements estimated to be worth $$183,600$ with four$-$year remaining lives. Any remaining acquisition$-$date fair value in the Spring acquisition was considered goodwill,

During $2024,$ Spring reported $$175,440$ net income and declared and paid dividends totaling $$51,000.$ Also in $2024,$ Pasture reported $$357,000$ 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 $31,2024?$

a Value to be assigned to noncontrolling interest $(NCI)$ at acquisition date

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 $31,2024?$

a$.$ Value to be assigned to noncontrolling interest $($NCI$)$ at acquisition date

b Consolidated net income allocation to noncontrolling interest

c$.$ Dividend allocation to noncontrolling interest

d$.$ Noncontrolling interest in Spring