Prepare an income allocation schedule (includes unrealized profit on land)The affiliation...

Prepare an income allocation schedule (includes unrealized profit on land)

The affiliation structure for Place Corporation and its affiliates is as follows:

During 2011 the separate incomes of the affiliates were as follows:

Lake’s income includes $20,000 unrealized profit on land sold to Marsh during 2011.

REQUIRED: Prepare a schedule that shows the allocation of income among the affiliates and also shows controlling and noncontrolling interest shares of consolidated net income for 2011.