P9-4 Computations for mutually held subsidiaries A schedule of intercompany investment interests and separate earnings for Par Corporation, Sit Corpora- tion, and Tot Corporation is presented as follows: Percentage Percentage Separate Earnings Interest in Sit Interest in Tot Current Year Par Corporation 80% 50% $400,000 Sit Corporation 20 200,000 Tot Corporation 10 100,000 - | REQUIRED 1. Compute controlling interest share and noncontrolling interest share of consolidated net income assuming no investment differences between fair value and book value or unrealized profits. 2. Compute controlling interest share and noncontrolling interest share assuming $20,000 unrealized inventory profits on Tot's sales to Sit and a $40,000 gain on Par's sale of land to Sit