Broadmore Corporation acquired 75 percent of Stem Corporations common stock on January 1, 20X8, for $435,000 At that date, Stem reported common stock outstanding of $300,000 and retained earnings of $200,000, and the fair value of the noncontrolling interest was $145,000 The book values and fair values of Stems assets and liabilities were equal, except for other intangible assets, which had a fair value $80,000 more than book value and a 10 year remaining life Broadmore and Stem reported the following data for 20X8 and 20X9 Stem Corporation Broadmore Corporation Year Net Income Comprehensive Income Dividends Paid Operating Income Dividends Paid 20X8 $ 40,000 $ 50,000 $ 15,000 $ 120,000 $ 70,000 20X9 60,000 65,000 30,000 140,000 70,000 Required a Compute consolidated comprehensive income for 20X8 and 20X9 b Compute comprehensive income attributable to the controlling interest for 20X8 and 20X9 c Assuming that Broadmore reported capital stock outstanding of $320,000 and retained earnings of $430,000 at January 1, 20X8, prepare the stockholders equity section of the consolidated balance sheet at December 31, 20X8 and 20X9

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Broadmore Corporation acquired 75 percent of Stem Corporations common stock on January 1, 20X8, for $435,000. At that date, Stem reported common stock outstanding of

Broadmore Corporation acquired 75 percent of Stem Corporations common stock on January 1, 20X8, for $435,000. At that date, Stem reported common stock outstanding of $300,000 and retained earnings of $200,000, and the fair value of the noncontrolling interest was $145,000. The book values and fair values of Stems assets and liabilities were equal, except for other intangible assets, which had a fair value $80,000 more than book value and a 10-year remaining life. Broadmore and Stem reported the following data for 20X8 and 20X9:

	Stem Corporation									Broadmore Corporation

Year	Net Income			Comprehensive Income			Dividends Paid			Operating Income			Dividends Paid
20X8		$	40,000		$	50,000		$	15,000		$	120,000		$	70,000
20X9			60,000			65,000			30,000			140,000			70,000

Required:
a.	Compute consolidated comprehensive income for 20X8 and 20X9.

b.	Compute comprehensive income attributable to the controlling interest for 20X8 and 20X9.

c.	Assuming that Broadmore reported capital stock outstanding of $320,000 and retained earnings of $430,000 at January 1, 20X8, prepare the stockholders equity section of the consolidated balance sheet at December 31, 20X8 and 20X9.