(Cost Method): Pitts Company owns 80% of the common stock of Shannon Company. The stock was purchased for $960,000 on January 1, 2012, when Shannon Company's retained earnings were $675,000. On January 1, 2014, Shannon Company sold fixed assets to Pitts Company for $960,000; Shannon Company had purchased these assets for $1,350,000 on May 1, 2007, at which time their estimated useful life was 16 2/3 years (zero residual value). The estimated remaining useful life to Pitts Company on 1/1/14 is 10 years. Both companies employ the straight-line method of depreciation. Pitts Company Net income Dividend Shannon Company Net income Dividend Year 2015 435,000 150,000 300,000 75,000 Retained Earnings Pitts Company Shannon Company 1/1/2015 1,215,000 1,038,000 D. Determine Consolidated net income for 2015. E. Determine NCI income for 2015. F. Determine Retained Earnings balance (12/31/2015) on the consolidated balance sheets