During January 2010, Wells Inc. acquired 30% of the outstanding common stock of Wilton Co. for $1400000. this investment gave wells the ability to exercise significant influence over Wilton. Wilton's assets on that date were recorded at $6,400,000 with liabilities of $3000000. Any excess of cost over book value of Well's investment was attributed to unrecorded patents having a remaining useful life of ten years.