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On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $47,220. Calvin Co. has one recorded asset, a specialized production

On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $47,220. Calvin Co. has one recorded asset, a specialized production machine with a book value of $16,000 and no liabilities. The fair value of the machine is $68,500, and the remaining useful life is estimated to be 10 years. Any remaining excess fair value is attributable to an unrecorded process trade secret with an estimated future life of 4 years. Calvins total acquisition date fair value is $78,700.

At the end of the year, Calvin reports the following in its financial statements:

Revenues $ 65,250 Machine $ 14,400 Common stock $ 10,000
Expenses 30,150 Other assets 25,700 Retained earnings 30,100
Net income $ 35,100 Total assets $ 40,100 Total equity $ 40,100
Dividends paid $ 5,000

Determine the amounts that Beckman should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income, noncontrolling interest, Calvins machine (net of accumulated depreciation), and the process trade secret.

Amount
Noncontrolling interest in subsidiary income
Total noncontrolling interest
Calvin's machine (net accumulated depreciation)
Process trade secret

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