Investment recording methods. Salvania Corporation is considering investing in Farnorth...

Investment recording methods. Salvania Corporation is considering investing in Farnorth Corporation, but is unsure about what level of ownership should be undertaken. Salvania and Farnorth have the following reported incomes:

Farnorth paid $15,000 in cash dividends to its investors. Prepare a pro forma income statement for Salvania Corporation that compares income under 10%, 30%, and 80% ownership levels.