2 Doints ES-10 Differential Assigned to Amortizable Asset LO 5-1, 5-2 Public Corporation acquired 90 percent of Station Company's voting common stock on January 1, 20x1, for $495,900. At the time of the combination, Station reported common stock outstanding of $129,000 and retained earnings of $382,000, and the fair value of the noncontrolling interest was $55,100. The book value of Station's net assets approximated market value except for patents that had a market value of $40,000 more than their book value. The patents had a remaining economic life of ten years at the date of the business combination. Station reported net income of $60,000 and paid dividends of $20,000 during 20X1.