On January 1, 2016, Pride Corporation purchased 90 percent of the outstanding voting shares of Star, Inc. for $465,000 cash. The acquisition-date fair value of the noncontrolling interest was $51,700. At January 1, 2016, Stars net assets had a total carrying amount of $361,900. Equipment (eight-year remaining life) was undervalued on Stars financial records by $55,200. Any remaining excess fair value over book value was attributed to a customer list developed by Star (four-year remaining life), but not recorded on its books. Star recorded net income of $48,300 in 2016 and $55,200 in 2017. Each year since the acquisition, Star has declared a $13,800 dividend. At January 1, 2018, Prides retained earnings show a $172,500 balance.

Selected account balances for the two companies from their separate operations were as follows:

	Pride			Star
2018 Revenues	$	343,700		$	196,700
2018 Expenses		241,600			134,600

What is consolidated net income for 2018?

Multiple Choice

• $132,400.

• $132,110.

• $164,200.

• $133,600.