P owns 40% of S. Professional judgement has applied, and it is concluded that P controls S. The 2019 partial pre-tax income statements of both companies are shown below. Assume no other expenses than indicated below. On January 1, 2019, S sold equipment to P at a profit of $7,000 (before tax). The equipment had a remaining useful life of twenty-five years on that date. At the end of 2019 S declared and paid a $5,000 dividend.

Assuming a tax rate of 30%, prepare an adjusted consolidated income statement, including the share attributable to the non-controlling interest