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Calvins total acquisition date fair value is $78,420. At the end of the year, Calvin reports the following in its financial statements: Revenues $ 54,750
Calvins total acquisition date fair value is $78,420.
At the end of the year, Calvin reports the following in its financial statements:
Revenues | $ | 54,750 | Machine | $ | 9,000 | Common stock | $ | 10,000 | |||
Expenses | 22,200 | Other assets | 28,550 | Retained earnings | 27,550 | ||||||
Net income | $ | 32,550 | Total assets | $ | 37,550 | Total equity | $ | 37,550 | |||
Dividends paid | $ | 5,000 | |||||||||
Determine the amounts that Beckman should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income, noncontrolling interest, Calvins machine (net of accumulated depreciation), and the process trade secret.
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