Following are separate income statements for Austin, Inc., and its 80 percent owned subsidiary, Rio Grande Corporation as well as a consolidated statement for the business combination as a whole Austin (775,000) 425,000 118,000 Rio Grande (550,000) 325,000 71,000 Consolidate (,325,000) 750,000 220,000 Revenues Cost of goods sold Operating expenses Equity in earnings of Rio Grande Individual company net income Consolidated net income Noncontrolling interest in consolidated net income Consolidated net income attributable to Austin 77,000) $ (309,000) $ (154,000) (355,000) (46,000) (309,000)