Positive Corp. acquired 80% of the oustanding common stock of Synergy company on June 1, 2013 for $586,250.

Synergy Co.'s stockholder's equity components at the end of this year are as follows: Ordinary shares P100 par, $250,000. Share premium $112,500. Retained earnings $222,500.

Non-controlling interest is measured at fair value. Fair value on the date of acquisition is $117,500.

All of the assets of Syngergy Co. were fairly valued except for inventories which were overstated by $11,000 and equipment which was understated by $15,000. The remaining useful life of the equipment is 4 years.

Both companies use the straight line method for depreciation. Stockholder's equity of Positive on January 1, 2013 is composed of: Ordinary shares $750,000. Share premium $175,000. Retained earnings $525,000.

Goodwill, if any, should be written down by $14,225 at year end.

Net income for the first year of the parent and subsidiary are $75,000 and $42,500 (from the date of acquisition) respectively.

Dividends declared at the end of the year amounted to $20,000 and $15,000. There was no issuance of new ordinary shares during the year.

How much is net income attributable to 1. parent and 2. subisdiary?

The answer is 1. $90,345 and 2. $9742.5 - but I do not know how to get these amounts. Can anyone provide a solution? Thank you very much.