E 9-8 Calculating net income, noncontrolling interest share, and controlling interest share with unrealized profits The affiliation structure for Parang Corporation and Subsidiaries is as follows:

Parang 80%

Sangkur Keris 60%

The investments were acquired at fair value equal to book value in 2016. Parang’s ending balance of inventories in 2016 includes unrealized profits of $15,000 from Sangkur. Keris’s land account includes unrealized profits of $10,000 from Sangkur.

Separate incomes (not including investment income) for all companies for 2016 are:

Parang $400,000 separate net income Sangkur $100,000 separate net income Keris $200,000 separate net income REQuIRED:

Determine the following:

1. Parang Corporation’s income from Sangkur for 2016 2. Parang and Subsidiaries’ noncontrolling interest share for 2016 3. Parang and Subsidiaries’ controlling interest share for 2016