On May 1, 2015, Peters Company purchased 80% of the common stock of Smith Company for $48,400. Additional data concerning these two companies for the years 2015 and 2016 are: 2015 2016 Peters Smith Peters Smith Common stock $101,500 $23,700 $101,500 $23,700 Other contributed capital 41,400 10,000 41,400 10,000 Retained earnings, 1/1 78,100 10,000 126,800 55,900 Net income (loss) 64,200 47,700 37,100 (5,100) Cash dividends (11/30) 15,500 1,800 5,100 --0- Any difference between book value and the value implied by the purchase price relates to Smith Company's land. Peters Company uses the cost method to record its investment. Calculate controlling interest in consolidated net income and consolidated retained earnings for 2015 and 2016. 2015 2016 Controlling interest in consolidated net income $