3. On January 1, 2015, Jannison Inc. acquired 90% of Techron Co. by paying $477,000 cash. Techron Co. reported a Common Stock account balance of $140,000 and Retained Earnings of $280,000 at that date. The fair value of Techron Co. was appraised at $530,000. The total annual amortization was $11,000 as a result of this transaction. The subsidiary earned $98,000 in 2015 and $126,000 in 2016 with dividend payments of $42,000 each year. Without regard for this investment, Jannison had income of $308,000 in 2015 and $364,000 in 2016.

Determine consolidated net income for 2016.

Determine the noncontrolling interest net income for 2016.