First Boston Corporation purchased 80 percent of the common stock of Gulfside Corporation on January 1, 20X5. Gulfside Corporation holds 60 percent of the voting shares of Paddock Company, and Paddock Company owns 10 percent of the stock of First Boston Corporation. All purchases were made at underlying book value. During 20X7, income from the separate operations of First Boston Corporation, Gulfside Corporation, and Paddock Company was \(\$ 44,000, \$ 34,000\), and \(\$ 50,000\), respectively, and dividends of \(\$ 30,000, \$ 20,000\), and \(\$ 10,000\), respectively, were paid. The companies use the cost method of accounting for intercorporate investments and, accordingly. record dividends received as other (nonoperating) income.
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Compute the amount of consolidated net income and the income to be assigned to the noncontrolling shareholders of Gulfside Corporation and Paddock Company for 20X7 using

(a) the entity approach and \((b)\) the treasury stock method.