Required information [The following information applies to the questions displayed below.] On January 1, 2020, French Company acquired 60 percent of K-Tech Company for $310,500 when K-Tech's book value was $410,500. The fair value of the newly comprised 40 percent noncontrolling interest was assessed at $207,000. At the acquisition date, K-Tech's trademark (10-year remaining life) was undervalued in its financial records by $80,000. Also, patented technology (5-year remaining life) was undervalued by $27,000. In 2020, K-Tech reports $26,500 net income and declares no dividends. At the end of 2021, the two companies report the following figures (stockholders' equity accounts have been omitted): French Company K-Tech Company Carrying Carrying Amounts Amounts Current assets Trademarks Patented technology $ 627,000 $ 307,000 267,000 207,000 417,000 157,000 Liabilities (397,000) (127,000) Revenues (907,000) (407,000) Expenses 493,000 307,000 Investment income Not given Note: Parentheses indicate a credit balance. K-Tech Company Fair Values $ 327,000 287,000 184,000 (127,000) In 2021, assuming K-Tech has declared no dividends, what are the noncontrolling interest's share of the subsidiary's income and the ending balance of the noncontrolling interest in the subsidiary? Multiple Choice $26,600 and $236,080. $31,960 and $252,240. $34,640 and $246,880. $40,000 and $217,600. Required