On January 1, 20X4, Norman Corporation acquired 75 percent of Jackson Corporation's voting common stock. On the date of acquisition, the excess of fair value over book value of Jackson's net assets was $134,000, which was attributed to amortizable assets with a remaining life of 10 years. On December 31,20X4, Jackson sold a building to Norman and recorded a gain of $26,000. Income assigned to the noncontrolling shareholders in the 204 consolidated income statement was $17,800. What is the amount of net income reported by Jackson for 20X4? $58,600 $97,200 $71,200 $110,600