Hello. I am having trouble trying to find the consolidated trademark balance for this problem. The correct answer is supposed to be $508,000 but I do not know how to arrive at that answer.

Can you please provide calculations and explanations so I can understand how to get to the right answer? Also, please provide your response in Word or Excel as handwritten answers are hard to read. I greatly appreciate your time.

Use the following information for Problems 14 through 16: West Company acquired 60 percent of Solar Company for $300,000 when Solar's book value was $400,000. The newly comprised 40 percent noncontrolling interest had an assessed fair value of $200,000. Also at the acquisition date, Solar had a trademark (with a 10-year remaining life) that was undervalued in the financial records by $60,000. Also, patented technology (with a 5-year remaining life) was undervalued by $40,000. Two years later, the following figures are reported by these two com- panies (stockholders' equity accounts have been omitted): West Company Book Value Solar Company Book Value Solar Company Fair Value Current assets Trademarks.. Patented technology.. Liabilities. Revenues Expenses. Investment income $620,000 260,000 410,000 (390,000) (900,000) 500,000 Not given $300,000 200,000 150,000 (120,000) (400,000) 300,000 $320,000 280,000 150,000 (120,000) LO 4-2 16. What is the consolidated trademarks balance? a. $508,000 b. $514,000 c. $520,000 d. $540,000