P7-25 Subsidiary Net Income LO 7-6 Pizza Corporation acquired 75 percent of Slice Corporation's voting common stock on January 1, 20X4, for $354,000, when the falr value of its net Identifiable assets was $470,000 and the fair value of the noncontrolling Interest was $116,000. Slice reported common stock outstanding of $140,000 and retained earnings of $220,000. The excess of fair value over book value of Slice's net assets was attributed to amortizable assets with a remaining life of 10 years. On December 31, 20X4, Slice sold a building to Pizza and recorded a gain of $21,000. Income assigned to the noncontrolling shareholders in the 20X4 consolidated Income statement was $17,700. Required: a. Compute the amount of net Income Slice reported for 20X4. Reported income of Slice b. Compute the amount reported as consolidated net Income If Pizza reported operating Income of $237,000 for 20X4. Consolidated net income c. Compute the amount of Income assigned to the controlling Interest in the 20x4 consolidated Income statement. Income assigned to controlling interest