Mattoon, Inc., owns 80 percent of Effingham Company. For the current year, this combined entity reported consolidated net income of $404,450. Of this amount, $357,700 was attributable to Mattoons controlling interest while the remaining $46,750 was attributable to the noncontrolling interest. Mattoon has 146,000 shares of common stock outstanding, and Effingham has 44,000 shares outstanding. Neither company has issued preferred shares or has any convertible securities outstanding. On the face of the consol