Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December 31, 20X8, are as follows:

		Plug Products								Spark Filter Company
	Debit				Credit				Debit					Credit
Cash and Accounts Receivable		$	154,000							$	103,000
Inventory			224,000								117,000
Buildings & Equipment (net)			272,000								184,000
Investment in Spark Filter Company			247,098
Cost of Goods Sold			174,000								139,000
Depreciation Expense			45,000								35,000
Current Liabilities						$	176,068							$	81,468
Common Stock							184,000								85,000
Retained Earnings							463,000								202,000
Sales							259,532								209,532
Income from Spark Filter Company							33,498
Total		$	1,116,098			$	1,116,098			$	578,000			$	578,000

On January 1, 20X8, Plug's inventory contained filters purchased for $67,000 from Spark Filter, which had produced the filters for $47,000. In 20X8, Spark Filter spent $107,000 to produce additional filters, which it sold to Plug for $152,532. By December 31, 20X8, Plug had sold all filters that had been on hand January 1, 20X8, but continued to hold in inventory $45,760 of the 20X8 purchase from Spark Filter. Required: a. Prepare all consolidation entries needed to complete a consolidation worksheet for 20X8.

b. Compute consolidated net income and income assigned to the controlling interest in the 20X8 consolidated income statement.

c. Compute the balance assigned to the noncontrolling interest in the consolidated balance sheet as of December 31, 20X8.