Ajax Corporation purchased at book value 70 percent of Beta Corporation's ownership and 90 percent of Cole Corporation's ownership in 20X5. At the dates the ownership was acquired, the fair value of the noncontrolling interest was equal to a proportionate share of book value. There are frequent intercompany transfers among the companies. Activity relevant to 20X8 follows:

Year	Producer	Production Cost		Buyer	Transfer Price		Unsold at End of Year		Year Sold
20X7	Beta Corporation	$	45,000	Ajax Corporation	$	51,000	$	17,000	20X8
20X7	Cole Corporation		114,000	Beta Corporation		126,000		31,500	20X8
20X8	Ajax Corporation		36,000	Beta Corporation		56,000		11,200	20X9
20X8	Beta Corporation		117,000	Cole Corporation		126,000		21,000	20X9
20X8	Cole Corporation		48,000	Ajax Corporation		66,000		22,000	20X9

For the year ended December 31, 20X8, Ajax reported $86,000 of income from its separate operations (excluding income from intercorporate investments), Beta reported net income of $56,500, and Cole reported net income of $33,000.

Required:

a.	Compute the amount to be reported as consolidated net income for 20X8. (Do not round intermediate calculations.)

b.	Compute the amount to be reported as inventory in the December 31, 20X8, consolidated balance sheet for the preceding items. (Do not round intermediate calculations.)

c.	Compute the amount to be reported as income assigned to noncontrolling shareholders in the 20X8 consolidated income statement. (Do not round intermediate calculations.)