6. 12%. P owns 70% of S1 and 30% of S2, S1.owns 40% of S2. Each firm reported 15,000 of income before calculating equity income or adjusting for intercompany exchanges. On 1/1 2020, P sold equipment with a 10 year remaining life to S2 resulting in a $7,000 gain. An analysis of 2020 intercompany inventory sale shows that S2's inventory includes $3,000 of unrealized gross profit on goods purchased from S1 and S1 inventory includes $4,000 of unrealized gross profit on goods purchased from S2.

Compute: 1.Consolidated Net Incme

2. CNI allocated to the non-controlling interests

3. CNIallocated to the controlling interest