M9-21. Computing Consolidating Adjustments and Noncontron's common stock for $400,000 cash when Patterson Company purchases 80% of Kensington Cond $300,000 of retained earnings. If a consolidated Kensington Company has $200,000 of common stock are eliminated when preparing balance sheet is prepared immediately after the acq ensolidated balance sheet? that statement? What amount of noncontrolling interest appears in the consoli M9-22. Computing Consolidated Net Income Bedford Company purchased a 90% interest in Midway Company on January 1 of the current year, and the purchase price reflected 90% of Midway's book value of equity. Bedford Company had $400,000 nel income for the current year before recognizing its share of Midway Company's net income. If Midway Company had net income of $90,000 for the year, what is the consolidated net income attributable to Bedford shareholders for the year? M9-23. Assigning Purchase Price in Acquisitions Jasper Company acquired 80% of Fey Company at the beginning of the current year. Jasper paid $150,000 more than the book value of Fey's stockholders' equity and determined that this excess purchase price related to intangible assets. How does the $150,000 appear on the consolidated Jasper Company balance sheet if the intangible assets acquired related to (a) patents or, alternatively, (b) goodwill? How would each scenario affect the consolidated income statement