Paige Company purchased 75% of the outstanding common shares and 50% of the outstanding preference shares of Salt Inc. on January 1, 2019, on which date the balance sheet and fair values of Salt's assets and liabilities were as follows:

Salt Inc. Balance Sheet December 31, 2018

	Book Values	Fair Values
Cash	$130,000	$130,000
Accounts receivable	120,000	110,000
Inventory	320,000	290,000
Capital assets (net)	720,000	800,000
Total	$1,290,000
Current liabilities	$190,000	$190,000
Long-term debt	300,000	300,000
Common shares	300,000
Preferred shares	200,000
Contributed surplus	50,000
Retained earnings	250,000
Total	$1,290,000

Paige paid $460,000 for the common shares and $105,000 for the preference shares. The contributed surplus arose from the issue of the preferred shares at a price higher than their stated value. The preferred shares paid cumulative dividends of 5% of their stated value but dividends for 2017 and 2018 were unpaid. The shares were redeemable, at the option of the issuer, at a premium of 8%. The capital assets of Salt had a remaining useful life of ten years at January 1, 2019. Any unallocated acquisition differential would be treated as goodwill, which is assessed annually for impairment. Paige accounts for its interest in Salt using the cost method and accounts for the non-controlling interest in its consolidated financial statements based on the fair value of the subsidiary, proportionate to the price paid for the controlling interest.

Paige's net income for 2019 was $300,000 and Paige paid dividends of $150,000 on December 31, 2019. Salt's net income for 2019 was $120,000 before a loss from discontinued operations of $60,000 (net of tax). Salt paid dividends of $75,000 in 2019. (Paige included all dividends received in its income for 2019.)

Required:

1) Calculate the amount of the non-controlling interest on the consolidated balance sheet of Paige and its subsidiary as at December 31, 2019.

2) Calculate the consolidated net income of Paige and its subsidiary as at December 31, 2019.