E9-8 Multilevel Ownership Parent Corporation owns 70 percent of Sister Corporation's common stock and 25 percent of Brother Corporation's common stock, In addition, Sister owns 40 percent of Brother's stock In 20X6, Parent, Sister, and Brother reported operating income of $90,000,$60,000, and $40,000 and paid dividends of $45,000,$30,000, and $10,000, respectively. Required c. What amount of consolidated net income will Parent report for 206 ? b. What amount of income will be assigned to the noncontrolling interest in the 206 consolidated income statement? c. What amount of income will be assigned to the controlling interest in the 206 income statement? d. What amount will be reported as dividends declared in Parent's 206 consolidated retained eamings statement? a. Consolidated net income for 206 is : b. Income assigned to the noncontrolling interest: Income from Brother Income from Sister Total income assigned to noncontrolling interest c. Income assigned to the controlling interest: Consolidated net income Less: Income assigned to noncontrolling interest Income assigned to controlling interest d. Dividends paid by Parent Corporation to its shareholders will be reported as dividends declared in Parent's 206 consolidated retained earnings statement