5. Lacana Corporation paid $200,000 for a 25% interest in Sillypad Corporation's common stock on January 1, 2020, but was not able to exercise significant influence over Sillypad. During 2020 Lacana reported income of $120,000, excluding its income from Sillyrad, and paid dividends of $50,000. Sillypad reported net income of $40,000 during 2020 and paid dividends of $20,000. Lacana should report net income for 2020 in the amount of? 6. On June 1, 2020, Pull Company acquired 100% of the stock of Scrap Inc. On this date, Pull had Retained Earnings of $200,000 and Scrap had Retained Earnings of $100,000. On December 31, 2020, Pull had Retained Earnings of $240,000 and Scrap had Retained Earnings of $120,000. The amount of Retained Earnings that appeared in the December 31, 2020 consolidated balance sheet was