Calculate consolidated net incomeOn January 1, 2011, Pen Corporation purchased a 60 percen...

Calculate consolidated net income

On January 1, 2011, Pen Corporation purchased a 60 percent interest in Sal Corporation at book value (equal to fair value). At that time, Sal owned a 60 percent interest in Tip Corporation (acquired at book value equal to fair value) and a 15 percent interest in Win Company. The four companies had the following separate incomes and dividends for 2011 (separate income does not include investment income or dividend income):

REQUIRED: Determine the controlling and noncontrolling interest shares of consolidated net income.