Plexis Corporation holds 70 percent of Solar Companys voting common shares, acquired at book value, but none of its preferred shares. At the date of acquisition, the fair value of the noncontrolling interest was equal to 30 percent of the book value of Solar Company. Summary balance sheets for the companies on December 31, 20X5, are as follows:

	Plexis Corporation	Solar Company
Cash and Receivables	$ 70,000	$ 55,000
Inventory	60,000	35,000
Buildings and Equipment (net)	180,000	160,000
Investment in Solar Company	112,000	0
Total Assets	$ 422,000	$ 250,000
Accounts Payable	$ 40,000	$ 40,000
Preferred Stock	30,000	50,000
Common Stock ($ 15 par value)	90,000	75,000
Retained Earnings	262,000	85,000
Total Liabilities and Owners Equity	$ 422,000	$ 250,000

Neither of the preferred issues is convertible. Plexiss preferred pays a 9 percent annual dividend, and Solars preferred pays a 10 percent dividend. Solar reported net income of $40,000 and paid a total of $15,000 of dividends in 20X5. Plexis reported income from its separate operations of $80,000 and paid total dividends of $45,000 in 20X5.

Based on the preceding information, what is the amount of earnings available to common shareholders reported in the consolidated financial statements for the year?

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Multiple Choice

• $101,800
• $104,500
• $112,300
• $115,000