On January 1, 2014, Ridge Road Company acquired 30 percent of the voting shares of Sauk Trail, Inc. for $4,600,000 in cash. Both companies provide commercial Internet support services but serve markets in different industries. Ridge Road made the investment to gain access to Sauk Trail's board of directors and thus facilitate future cooperative agreements between the two firms. Ridge Road quickly obtained several seats on Sauk Trail's board which gave it the ability to significantly influence Sauk Trail's operating and investing activities The January 1, 2014, carrying amounts and corresponding fair values for Sauk Trail's assets and liabilities follow: Cash and receivables Computing equipment Patented technology Trademark Liabilities Carrying Amount Fair Value $ 205,000 $ 205,000 7,220,000 4,190,000 2,190,000 280,000 5,855,000 195,000 245,000 280,000 Also as of January 1, 2014, Sauk Trail's computing equipment had a remaining estimated useful life of seven years. The patented technology was estimated to have a three year remaining useful life. The trademark's useful life was considered indefinite. Ridge Road attributed to goodwill any unidentified excess cost. During the next two years, Sauk Trail reported the following net income and dividends: Dividends Net Income Declared $1,990,000 $245,000 2,175,000 255,000 2014 2015