Plush Corporation holds 80 percent of Scratch Company's voting common shares, acquired at book values, but none of its preferred shares. At the date of acquisition, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Scratch Company. Summary balance sheets for the companies on December 31, 20X8, are as follows:

	Plush Corporation					Scratch Company
Cash and Receivables		$	75,000				$	60,000
Inventory			40,000					30,000
Buildings and Equipment (net)			160,000					110,000
Investment in Scratch Company			80,000					0
Total Assets		$	355,000				$	200,000
Accounts Payable			50,000				$	25,000
Preferred Stock			50,000					75,000
Common Stock ($5 par value)			100,000					50,000
Retained Earnings			155,000					50,000
Total Liabilities and Owners Equity		$	355,000				$	200,000

Neither of the preferred issues is convertible. Plush's preferred pays a 8 percent annual dividend, and Scratch's preferred pays a 12 percent dividend. Scratch reported net income of $30,000 and paid a total of $10,000 of dividends in 20X8. Plush reported income from its separate operations of $70,000 and paid total dividends of $25,000 in 20X8.

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

Multiple Choice

• $89,200

• $87,000

• $91,000

• $82,800