Baywatch Industries has owned 80 percent of Tubberware Corporation for many years. On January 1, 20X6, Baywatch paid Tubberware $219,000 to acquire equipment that Tubberware had purchased on January 1, 20X3, for $234,000. The equipment is expected to have no scrap value and is depreciated over a 15-year useful life. Baywatch reported operating earnings of $100,000 for 20X8 and paid dividends of $35,000. Tubberware reported net income of $42,000 and paid dividends of $21,000 in 20X8. (Leave no cell blank, enter "0" wherever required.) Required:

a. Compute the amount reported as consolidated net income for 20X8. I came up with $143250 and the answer is incorrect.