Gestetner Company acquires 75% of Weiss Company for $600,000 on January 1, 2019. Weiss reported common stock of $325,000 and retained earnings of $215,000 on that date. Equipment was undervalued by $20,000 and buildings were undervalued by $30,000, each having a 10-year remaining life. Any excess consideration transferred over fair value was attributed to goodwill with an indefinite life. Based on an annual review, goodwill has not been impaired.

Weiss earns income and pays dividends as follows:

		2019		2020		2021
Net income		$ 100,000		$ 120,000		$ 130,000
Dividends		40,000		50,000		60,000

Assume (1) Gestetner has control over Weiss and (2) Gestetner is using the cost method to account for the investment in their independent (non-consolidated) accounting records.

Compute Gestetner's Investment in Weiss (on their independent accounting records) at December 31, 2019.

$600,000

$641,250

$671,250

$630,000

$800,000

Compute Gestetner's Investment in Weiss (on their independent accounting records) at December 31, 2020.

$667,500

$600,000

$800,000

$757,500

$690,000

How much does Gestetner record as Income from Weiss (on their independent accounting records) for the year ended December 31, 2019?

$75,000

$33,750

$41,250

$30,000

$71,250

Compute the noncontrolling interest in the net income of Weiss at December 31, 2019.

$13,750

$21,250

$23,750

$15,000

$25,000

Compute the noncontrolling interest in Weiss at December 31, 2019.

$190,000

$165,000

$8,750

$213,750

$215,000