On January Beckman, Incorporated, acquires percent of the outstanding stock of Calvin for $ Calvin Company has one
recorded asset, a specialized production machine with a book value of $ and no liabilities. The fair value of the machine is
$ and the remaining useful life is estimated to be years. Any remaining excess fair value is attributable to an unrecorded
process trade secret with an estimated future life of years. Calvin's total acquisition date fair value is $
At the end of the year, Calvin reports the following in its financial statements:
Required:
Determine the amounts that Beckman should report in its yearend consolidated financial statements for noncontrolling interest in
subsidiary income, noncontrolling interest, Calvin's machine net of accumulated depreciation and the process trade secret.
