Preparing a consolidated income statement-Equity method with noncontrolling interest, AAP and upstream intercompany depreciable asset profits A parent company purchased a 75% controlling interest in its subsidiary several years ago. The aggregate fair value of the controlling and noncontrolling interest was $156,000 in excess of the subsidiary's Stockholders' Equity on the acquisition date. This excess was assigned to a building that was estimated to be undervalued by $108,000 and to an unrecorded Customer List valued at $48,000. The building asset is being depreciated over a 10-year period and the Customer List is being amortized over a 5-year period, both on the straight-line basis with no salvage value. During a previous year, the subsidiary sold to the parent company a piece of depreciable property. The unconfirmed upstream gain on this intercompany transaction was $36,000 at the beginning of the current year. The upstream gain confirmed each year is $9,000. Duriig the current year, the subsidiary declared and paid $51,000 of dividends. The parent company uses the equity method of pre-consolidation investment bookkeeping. Each company reports the following income statement for the current year: a. Compute the Income (loss) from subsidiary of $126,450 reported by the parent company in its pre-consolidation income statement. b. Prepare the consolidated income statement for the current year