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i really dont understand what im doing wrong. please help! On January 1, 2023, French Company acquired 60 percent of K-Tech Company for $318,000 when

i really dont understand what im doing wrong. please help! image text in transcribed
image text in transcribed
On January 1, 2023, French Company acquired 60 percent of K-Tech Company for $318,000 when K-Tech's book value was $418,000. The falr value of the newly comprised 40 percent noncontrolling interest was a $ sessed at $212,000. At the acquisition date, K-Tech's trademark (10-year remaining life) was undervalued in its financial records by $80,000, Also, patented technology (5-year remaining life) was undervalued by $32,000. In 2023, K-Tech reports $24.000 net income and declares no dividends. At the end of 2024 , the two companies report the following figures (stockholders' equity accounts have been omitted): Note: Parentheses indicate a credit balance. Required: a. Compute the 2024 consolidated net income before allocation to the controlling and noncontrolling interests. b. In 2024, assuming K-Tech has declared no dividends, compute the noncontrolling interest's share of the subsidiary's income and the ending balance of the noncontrolling interest in the subsidiary. c. Compute the amount reported for trademarks in the 2024 consolidated balance sheet

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