Parent Corp bought 80% of Sub Corp on January 1, 2019, paying $200,000. Any excess differential at this date was attributed 30% to patent (with a 5 year remaining life) and 70% to goodwill.

Data from the balance sheets of the two companies at the date of acquisition:

	Parent Corp	Sub Corp
Cash	$ 60,000	$ 30,000
A/R	180,000	10,000
Inventory	70,000	30,000
Patent	0	80,000
PP&E	220,000	190,000
A/D	(100,000)	(20,000)
Investment in sub	200,000	0
Total Assets	$620,000	$320,000
A/P	$180,000	$ 35,000
Bonds Payable	90,000	60,000
Common Stock	125,000	45,000
Retained Earnings	235,000	180,000
Total Liabilities & Equity	$630,000	$320,000

In the year following the acquisition, the sub reported net income of $55,000 and paid dividends of $5,000 . Excluding the income from its sub, the parent reported net income of $90,000.

Please answer the following questions:

1. What income from sub (equity investment income) was reported by the parent on its own books and records for the first year?

2. What was the consolidated entity's net income for the first year?

3. What was the ending NCI value at the end of the first year?

4. What is the goodwill that will be on the consolidated financial statements?