On May 30, 2020, Proud Co. acquired 60 percent ownership in Mint Co. Total annual excess amortization result from the acquisition was $15,000. In 2020, Proud reports revenues of $700,000 and expenses of $400,000. In the same year, Mint reports revenues of $500,000 and expenses of $300,000. The parent figures contain no income from the subsidiary. What is the consolidated expense for 2020 in this mid-year acquisition? $583,750 $589,000 $566,250 $510,250. On January 1, 2020, Grand Haven, Inc., reports net assets of $760,000 although equipment (with a four-year remaining life) having a book value of $440,000 is worth $500,000 and an unrecorded patent is valued at $45,000. Van Buren Corporation pays $692,000 on that date to acquire an 80 percent equity ownership in Grand Haven. If the patent has a remaining life of nine years, at what amount should the patent be reported on Van Buren's consolidated balance sheet at December 31, 2021? $ 40,000 $ 35,000 $ 36,000 $ 28,000