On January 1, BigCo, Inc., acquires 60 percent of the outstanding stock of LittleCo for $39,024

On January 1, BigCo, Inc., acquires 60 percent of the outstanding stock of LittleCo for $39,024

Question
	On January 1, BigCo, Inc., acquires 60 percent of the outstanding stock of LittleCo for $39,024. LittleCo Co. has one recorded asset, a specialized production machine with a book value of $10,400 and no liabilities. The fair value of the machine is $51,400, 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. LittleCo’s total acquisition date fair value is $65,040.
At the end of the year, LittleCo reports the following in its financial statements:
Revenues	$ 65,250	 Machine	$ 9,360	 Common stock	$ 10,000
Expenses	29,700	 Other assets	31,190	 Retained earnings	30,550

Net Income	$35,550	 Total assets	$ 40,500	 Total equity	$ 40,550

Dividends paid	
$5,000	
Determine the amounts that BigCo should report in its year-end consolidated financial statements for noncontrolling interest in subsidiary income, total noncontrolling interest, LittleCo’s machine (net of accumulated depreciation), and the process trade secret. Report all amounts as positive values. Show your work for possible partial credit.
Item (5 points each)	Value	Show your work for possible partial credit!
Noncontrolling interest in subsidiary income	
Total noncontrolling interest	
LittleCo's machine (net accumulated depreciation)	
Process trade secret