Carroll Company sells all its output at 25 percent above cost. Pacific Corporation purchases all its inventory from Carroll Company. Selected information on the operations of the companies over the past three years is as follows:

Pacific Corporation purchased 60 percent of the ownership of Carroll on January 1, 20X1, at underlying book value.

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Compute consolidated net income and income assigned to the noncontrolling interest for 20X2, 20X3 , and 20X4.

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Carroll Company Pacific Corporation Sales to Inventory, Operating Year Pacific Corp. Net Income Dec. 31 Income 20X2 $200.000 $100,000 $ 70.000 $150.000 20X3 175,000 90.000 105.000 240.000 20X4 225,000 160,000 120,000 300,000