Pll 2019 Prepare a Consolidated Income Statement with NCI or Inc. for $1,300,000. The remaining 30% of Mirror's shares continue Outside Company purchased 70% of Mirror Inc. for $1,300,000. The remaining 30% Mirror has the following accounts: trade at a collective fair value of $560,000. On the date of the acquisition, Mirror has the foll Book Value Fair Value $400,000 $300,000 Land $800,000 $980,000 Equipment (5-year life) Patent (10-year life) $50,000 $150,000 The two companies reported the following balances for the year ended 12/31/2018: Sales Cost of Goods Sold Amortization/Depreciation Other Expenses Net Income Outside Co. $1,800,000 560,000 230,000 700,000 $310,000 Mirror Inc. $950,000 170,000 120,000 500,000 $160,000 Assume that the acquisition took place on January 1, 2018. In the space below, prepare a consolidated income statement (in good form) for the year 2018. Outside Company Consolidated Income Statement For the year ended December 31, 2018