E3-22B Applying Alternative Accounting Theories Noway Manufacturing owns 75 percent of Positive Piston Corporation's stock. During 2009, Noway and Positive Piston reported sales of $400,000 and $200,000 and expenses of $280,000 and $160,000, respectively. Required Compute the amount of total revenue, total expenses, and net income to be reported in the 20X9 consolidated income statement under the following alternative approaches: a. Proprietary theory. b. Parent company theory. C. Entity theory. d. Current accounting practice