Pointer Company Sales revenue. Cost of goods sold Gross profit... Expenses..... Net income.... Solvent Company 20x1 20x2 $250,000 $300,000 150 000 180.000 $100,000 $120.000 45,000 56,000 $ 55,000 $ 64,000 20X1 $500,000 310.000 $190,000 120,000 $70,000 20x2 $540,000 360,000 $180,000 125,000 $ 55,000 Solvent sells at the same gross profit percentage to all customers. During 20X1, Solvent sold goods to Painter for the first time in the amount of $100,000. $20,000 of these sales remained in Painter's ending inventory. During 20X2, sales to Painter by Solvent were $110,000, of which $30,000 sales were still in Painter's December 31, 20X2, inventory. Prepare consolidared income statements including the distribution of income to the con- trolling and noncontrolling interests for 20X1 and 20X2. Pointer Company Sales revenue. Cost of goods sold Gross profit... Expenses..... Net income.... Solvent Company 20x1 20x2 $250,000 $300,000 150 000 180.000 $100,000 $120.000 45,000 56,000 $ 55,000 $ 64,000 20X1 $500,000 310.000 $190,000 120,000 $70,000 20x2 $540,000 360,000 $180,000 125,000 $ 55,000 Solvent sells at the same gross profit percentage to all customers. During 20X1, Solvent sold goods to Painter for the first time in the amount of $100,000. $20,000 of these sales remained in Painter's ending inventory. During 20X2, sales to Painter by Solvent were $110,000, of which $30,000 sales were still in Painter's December 31, 20X2, inventory. Prepare consolidared income statements including the distribution of income to the con- trolling and noncontrolling interests for 20X1 and 20X2