1. (10 points) On January 1, 2014, Pearce Company acquired the control of Searl company. The detail of the deal is as follows. 80% % of interest in the capital stock of Searl Co 2,448,880 $ amount that Pearce company paid for the interest 1,460,200 Searl co's capital stock on 1/1/14 281,400 Searl co's retained earnings on 1/1/14 391,700 to equipment of Searl Company with a five-year remaining life. 203,300 to land held by Searl Company. 114,500 to inventory of Searl Company. Searl uses the FIFO assumption in pricing its inventory, and 610,000 that could not be assigned to specific assets or liabilities of Searl Company. 1,319,500 Total At year-end 2014 and 2015, Searl had in its inventory merchandise that it had purchased from Pearce at a 25% markup on cost during each year in the following amounts: 2014 $94,100 2015 $109,900 2014 2015 Pearce company's NI from independent operations Searle' NI 1,487,200 1,762,000 646,500 775,500 * including sales to affiliate A. Determine consolidated net income B. Determine NCI income C. Determine NI att. to P (In the exam pool, we had this as the controlling interest in consolidated net income)