The noncontrolling interest in subsidiary income and total non controlling interest

On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $51,612. Calvin Co. has one recorded asset, a specialized production machine with a book value of $19,200 and no liabilities. The fair value of the machine is $75,700, 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 $86,020.

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

Revenues	$	73,350		Machine	$	17,280		Common stock	$	10,000
Expenses		29,700		Other assets		31,370		Retained earnings		38,650
Net income	$	43,650		Total assets	$	48,650		Total equity	$	48,650
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.

Solve:

Noncontrolling Interest om subsidiary income:

Total noncontrolling interest: