P3-25 Indirect Ownership LO 3-20.3-4 Page 132 Purple Corporation recently attempted to expand by acquiring ownership in Green Company. The following ownership structure was reported on December 31, 20X9: Percentage of Ownership Held 70% Investor Purple Corporation Green Company Orange Corporation Green Company Investee Green Company Orange Corporation Blue Company Yellow Company 10 60 40 The following income from operations (excluding investment income) and dividend payments were reported by the companies during 20X9: Lompany Purple Corporation Green Company Orange Corporation Blue Company Yellow Company Operating Income $ 90,000 20,000 40,000 100,000 60,000 Dividends Paid $ 60,000 10,000 30,000 80,000 40.000 Required Compute the amount reported as consolidated net income for 20X9