(NCI sub net income with excess amortization):

Jackson acquires 70% of Storm on January 1, 2021. At acquisition date the book value of all of Sterns assets and liabilities equaled their fair value, with the exception of Equipment (10 year remaining life) that had a book value of $500,000 and a fair value of $800,000. For full year 2021, Stern had net income of $400,000. How much is NCI share of Stern net income for 2021 ?

Formula: NCI sub net income = (Sub net income-excess amortization) x NCI percentage