On January 1, 20X8, Bristol Company acquired 80 percent of Animation Company's common stock for $280,000 cash. At that date, Animation reported common stock outstanding of $200,000 and retained earnings of $100,000, and the fair value of the noncontrolling interest was S70,000. The book values and fair values of Animation's assets and liabilities were equal, except for other intangible assets which had a fair value $50,000 greater than book value and an 8-year remaining life. Animation reported the following data for 20X8 and 20X9: Animation Corporation Comprehensive Income Dividends Paid Year Net Income 20X8 $25,000 $30,000 $5,000 20X9 35,000 45,000 10,000 Bristol reported net income of $100,000 and paid dividends of $30,000 for both the years