Mesa, Inc., obtained 80 percent of Butte Corporation on January 1, 2012. Annual amortiza...

Mesa, Inc., obtained 80 percent of Butte Corporation on January 1, 2012. Annual amortization of $22,500 is to be recorded on the allocations of Butte’s acquisition-date business fair value. On January 1, 2013, Butte acquired 55 percent of Valley Company’s voting stock. Excess business fair-value amortization on this second acquisition amounted to $8,000 per year. For 2014, each of the three companies reported the following information accumulated by its separate accounting system. Separate operating income figures do not include any investment or dividend income.

a. What is consolidated net income for 2014?

b. How is consolidated net income distributed to the controlling and noncontrolling interests?