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	$	36,000		Ajax Corporation	$	42,000		$	14,000		20X8
20X7	Cole Corporation		72,000		Beta Corporation		84,000			21,000		20X8
20X8	Ajax Corporation		27,000		Beta Corporation		47,000			9,400		20X9
20X8	Beta Corporation		75,000		Cole Corporation		84,000			14,000		20X9
20X8	Cole Corporation		39,000		Ajax Corporation		57,000			19,000		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 $41,500, and Cole reported net income of $25,000. 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.)