8.On January 1, 2011, P Inc. Paid $300,000 for 60% of S Company's outstanding capital stock. S Inc. reported common stock on that date of $250,000 and retained earnings of $100,000. Plant assets, which had a five-year remaining life, were undervalued in S Inc. Financial records by $10,000. S Inc. also had a patent that was not on the books but had a market value of $60,000. The patent has a remaining useful life of 10 years. Any remaining fair value/book value differential is allocated to goodwill. S Inc. net income and dividends paid the first three years that P Inc. owned them are shown below: For 2011 net income 80,000 Dividends 30,000 For 2012 net income 90,000 Dividends 10,000 For 2013 net income 60,000 Dividends 18.890 Calculate the noncontrolling interest that should be reported on the consolidated balance sheet at the end of 2013. Using Full Equity Methods, Please 9.Assuming that P Inc. Uses the equity method to record its investment in S Inc. Calculate the ending balance in the Investment in S Inc. account at the end of 2013.