4. A parent company acquired an 80% interest in a subsidiary on July 1, 2015, The sub- sidiary closed its books on that date. The subsidiary reported net income of $60,000 for 2015, earned evenly during the year. The parent's net income, exclusive of any income of the subsidiary, was $140,000. The fair value of the subsidiary exceeded book value by $100,000. The entire difference was attributed to a patent with a 10-year life. a. What is consolidated net income for 2015 b. What is the noncontrolling share of net income for 20157