On May $1,2015.$ Peters Company purchased $80\%$ of the commen stock of Smith Company for $$52,500.$ Additicnal data concerning these two companies for the years $2015$ and $2016$ are:

$\backslash$table$[[,2015,2016],[,$Peters,,Peters,Smith$],[$Commonstock$,$$$104000,$$$25,100,$$$104,000,525,100],[$Other contributed capita,$43300,10,600,43,300,10,600],[$Retained earnings. $\frac{1}{1},72300,10700,128,000,58,100],[$Net income $($loss$),69700,49200,36,800,$