Parent has owned 70% of the share capital of Subsidiary for many years. During the year to 31 December Year 4 Subsidiary sold goods to Parent for $300,000. This amount reflected a mark-up of one third on the cost to Subsidiary. Goods which cost Parent $30,000 were still in inventory on 31 December Year 4. The income statements of each entity for the year are summarized below. Required Prepare the consolidated income statement for the year ended 31 December Year 4 , showing the allocation of the profit for the year between the amount attributable to the owners of the parent company and the amount attributable to the non-controlling interest in the subsidiary