On May 1, 2015, Peters Company purchased 80% of the common stock of Smith Company for $47,000. Additional data concerning these two companies for the years 2015 and 2016 are: 2015 2016 Peters Smith Peters Smith Common stock $106,600 $23,200 $106,600 $23,200 43,600 9,100 43,600 9.100 77.100 9,100 125,700 48,000 Other contributed capital Retained earnings, 1/1 Net income loss) Cash dividends (11/30) 63,700 40.800 40,400 (5,200 15,100 1.900 4.500 -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 s $ Consolidated Retained Earnings S