: allwill JLS The income statements for the year ended 31/12/2011 of Paul and Shune are summarized elow Paual owns 80% of Shune shares and the cost = BV) Paul Shune ales $600,000 $200,000 come from shune 120,000 penses (250,000) (80,000) t Income $470,000 $150,000 e consolidated net income would equal 500,000 $ . 320,000 $ . 470,000 $ 620,000 $ . here to search