Moe Company purchased 80% of CurleyCompany stock for $500,000.At the time of the purchase, Curley Company had abook value was $400,000 with the excess being caused by equipment being undervalued by $60,000 and the rest from goodwill.The equipment has a four year life.Moe sold inventory last year to Curley for a profit of $10,000 which was in their inventory at thebeginning of this year.Moe also sold inventory to Curley at a profit of $12,000 which is in the inventory of Curley at the end of the current year.The separate income reported by Moe was $150,000 and by Curley was $80,000.a.Determine the consolidated income, the controlling interest share, and the non-controlling interest share.Moe Company purchased 80% of CurleyCompany stock for $500,000.At the time of the purchase, Curley Company had abook value was $400,000 with the excess being caused by equipment being undervalued by $60,000 and the rest from goodwill.The equipment has a four year life.Moe sold inventory last year to Curley for a profit of $10,000 which was in their inventory at thebeginning of this year.Moe also sold inventory to Curley at a profit of $12,000 which is in the inventory of Curley at the end of the current year.The separate income reported by Moe was $150,000 and by Curley was $80,000.a.Determine the consolidated income, the controlling interest share, and the non-controlling interest share.