On January 1 , 2 0 2 3 , Bretz, Incorporated, acquired 6 0 percent of the outstanding shares of Keane Company for $ 5 7 3 , 0 0 0 in cash The price paid was proportionate to Keane's total fair value although at the date of acquisition, Keane had a total book value of $ 8 1 0 , 0 0 0 All assets acquired and liabilities assumed had fair values equal to book values except for a copyright ( six year remaining life ) that was undervalued in Keane's accounting records by $ 1 2 0 , 0 0 0 During 2 0 2 3 , Keane reported net income of $ 1 5 0 , 0 0 0 and declared cash dividends of $ 8 0 , 0 0 0 On January 1 , 2 0 2 4 , Bretz bought an additional 3 0 percent interest in Keane for $ 3 0 0 , 0 0 0 The following financial information is for these two companies for 2 0 2 4 Keane issued no additional capital stock during either 2 0 2 3 or 2 0 2 4 Also, at year end, there were no intra entity receivables or payables table Items , table Bretz , , Incorporated , Keane Company , Revenues , , $ ( 3 0 0 , 0 0 0 )

Question

On January 1 , 2 0 2 3 , Bretz, Incorporated, acquired 6 0 percent of the outstanding shares of Keane Company for $ 5 7 3 , 0 0 0 in cash  The price paid was proportionate to Keane's total fair value although at the date of acquisition, Keane had a total book value of $ 8 1 0 , 0 0 0   All assets acquired and liabilities assumed had fair values equal to book values except for a copyright ( six   year remaining life ) that was undervalued in Keane's accounting records by $ 1 2 0 , 0 0 0   During 2 0 2 3 , Keane reported net income of $ 1 5 0 , 0 0 0 and declared cash dividends of $ 8 0 , 0 0 0   On January 1 , 2 0 2 4 , Bretz bought an additional 3 0 percent interest in Keane for $ 3 0 0 , 0 0 0   The following financial information is for these two companies for 2 0 2 4   Keane issued no additional capital stock during either 2 0 2 3 or 2 0 2 4   Also, at year   end, there were no intra   entity receivables or payables    table     Items ,   table     Bretz ,   ,   Incorporated     , Keane Company   ,   Revenues , , $ ( 3 0 0 , 0 0 0 )

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On January 1 , 2 0 2 3 , Bretz, Incorporated, acquired 6 0 percent of the outstanding shares of Keane Company for $ 5

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