E 8-1 Allocate income and dividends to controlling, noncontrolling, and preacquisition interests On January 1, 2016, Pablo Corporation acquires a 60 percent interest in Sango Corporation. On July 1, 2016, Pablo decides to increase its investment in Sango to 80 percent of interest. Sango’s net income for 2016 is $250,000, and it declares $40,000 dividends on March 1 and September 1.

REQuIRED: Show the allocation of Sango’s income and dividends among controlling interests, noncontrolling interests, and preacquisition interests.