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3.Noncontrolling Interest. West Company acquired 60 percent of Solar Company for $300,000 when Solar's book...

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3.Noncontrolling Interest. West Company acquired 60 percent of Solar Company for $300,000 when Solar's book value was $400,000. The newly comprised 40 percent noncontrolling interest had an assessed fair value of $200,000 Also, at the acquisition date, Solar had a trademark (with a 10- year life) that was undervalued in the financial records by $60,000. Also, patented technology (with a 5-year life) was undervalued by $40,000. Two years later, the following figure:s are reported by these two companies (stockholders' equity accounts are omitted) W Company Solar Company Solar Company Book Value Book Valuc Fair Value 320,000 280,000 190,000 (120,000) Current assets 620,000 300,000 00,000 150,000 (120,000) (400,000 00,000 Trademarks 60,000 Patented technologv 410,000 Liabilities Revenues Expenses Investment income Not given (390,000) 900,000 500,000 Assuming Solar Company has paid 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? a $34,400 and $240,800 b. $26,000 and $230,000 c. $40,000 and $252,000 d. $28,800 and $252,000 e. None of the above

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