17 On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $66,312. Calvin Co. has one recorded asset, a specialized production machine with a book value of $14,000 and no liabilities. The fair value of the machine is $100,000, 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 $110,520. 10 points At the end of the year, Calvin reports the following in its financial statements: Revenues Expenses Net income Dividends paid $ 57,750 24,150 $ 33,600 $ 5,000 Machine Other assets Total assets $ 12,600 30,000 $ 42,600 Common stock Retained earnings Total equity $ 14,000 28,600 $ 42,600 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. 17 On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $66,312. Calvin Co. has one recorded asset, a specialized production machine with a book value of $14,000 and no liabilities. The fair value of the machine is $100,000, 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 $110,520. 10 points nahin At the end hohe year, Calvin reports the following in its financial statements: Revenues Expenses Net income Dividends paid $ 57,750 24,150 $ 33,600 $ 5,000 Machine Other assets Total assets $ 12,600 30,000 $ 42,600 Common stock Retained earnings Total equity $ 14,000 28,600 $ 42,600 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. Answer is not complete. Amount Noncontrolling interest in subsidiary income Total noncontrolling interest Calvin's machine (net accumulated depreciation) Process trade secret $ 7,890