On January 1, Beckman, Inc., acquires 60 percent of the outstanding stock of Calvin for $56,760. Calvin Co. has one recorded asset, a specialized production machine with a book value of $13,800 and no liabilities.
The fair value of the machine is $81,800, 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.
Calvin's total acquisition date fair value is $94,600.
At the end of the year, Calvin reports the following in its financial statements
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| Revenues |
$ |
58,200 |
Machine |
$ |
12,420 |
Common stock |
$ |
13,800 |
| Expenses |
|
21,000 |
Other assets |
|
33,580 |
Retained earnings |
|
32,200 |
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| Net income |
$ |
37,200 |
Total assets |
$ |
46,000 |
Total equity |
$ |
46,000 |
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|
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|
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| Dividends paid |
$ |
5,000 |
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Determine the amounts that Beckman should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income, noncontrolling interest, Calvin's machine (net of accumulated depreciation), and the process trade secret.