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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 $319,500 when K-Tech's book value was $419,500. The fale value of the newly comprised 40 percent noncontrolling interest was assessed at $213,000. 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 $33,000 In 2020, K-Tech reports $19,500 net income and declares no dividends. At the end of 2021, the two companies report the following figures (stockholders' equity accounts have been omitted) Current assets Trademarks Patented technology Liabilities Revenues Expenses Investment income French Company Carrying Amounts $ 631,000 271,000 421,000 (401,000 (911,000) 489,000 Not given K-Tech Company Carrying Amounts $ 311,000 211,000 161,080 (131, 000) (411,000) 311,800 K-Tech Company Fair Values $ 331,000 291,000 194,000 (131,000) Note: Parentheses indicate a credit balance. 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 $25,400 and $238.320 $34160 and $249,120 C $31240 and $254.960. $40,000 and $220,800

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