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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 $333,000 when K-Tech's book value was $433,000. The fair value of the newly comprised 40 percent noncontrolling interest was assessed at $222,000. 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 $42,000 in 2020, K-Tech reports $19,000 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 $ 642,000 282,000 432, 800 (412, 000) (922,000 478,000 Not given K-Tech Company Carrying Amounts $ 322,000 222,eee 172, mee (142,080) (422.000 322,000 K-Tech Company Fair Values $ 342,800 3e2,eee 214,000 (142, 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 $23,600 and $245,680. $33,440 and $256,480 $40,000 and $229,600 Multiple Choice $23,600 and $245,680. $33,440 and $256,480. $40,000 and $229,600. $30,160 and $263,040, What amount is reported for trademarks in the 2021 consolidated balance sheet? Multiple Choice $592,000 $568,000 $576,000 Multiple Choice $592,000. $568,000 $576,000 $584,000

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