Required information Use the following information to answer questions 14-16 [The following information applies to the questions displayed below.] On January 1, 2020, French Company acquired 60 percent of K-Tech Company for $330,000 when K-Tech's book value was $430,000. The fair value of the newly comprised 40 percent noncontrolling interest was assessed at $220,000. At the acquisition date, K-Tech's trademark (20-year remaining life) was undervalued in its financial records by $80,000. Also, patented technology (10-year remaining life) was undervalued by $40,000. In 2020, K-Tech reports $20,000 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 Carrying Amounts K-Tech Company Carrying Amounts K-Tech Company Fair Values Current assets $ 640,000 $ 320,000 $ 340,000 Trademarks 280,000 220,000 300,000 Patented technology 430,000 170,000 Liabilities (410,000) (140,000) 210,000 (140,000) Revenues (920,000) (420,000) Expenses 480,000 320,000 Investment income Not given Note: Parentheses indicate a credit balance. Problem 4-15 (Algo) (LO 4-4, 4-5) 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? 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 $36,800 and $261,600. $35,200 and $264,800. $40,000 and $228,000. $32,000 and $250,800