Problem Fixed asset sales by parent and subsidiary. The separate income statements of Danner Company and its 90%-owned subsidiary, Link Company, for the year ended December 31, 2016, are as follows: Sales ... Danner Company $ 650,000 (400,000) $ 250,000 (180,000) 20,000 $ 90,000 18,000 $ 108,000 Link Company $ 280,000 (190,000) $ 90,000 170,000) Cost of goods sold Gross profit Other expenses Other income.. Operating income Subsidiary income Net income $ 20,000 $ 20,000 The following additional facts apply: a. On January 1, 2015, Link Company purchased a building, with a book value of $100,000 and an estimated 20-year life, from Danner Company for $150,000. The building was being depreciated on a straight-line basis with no salvage value. b. On January 1, 2016, Link Company sold a machine with a cost of $40,000 to Danner Company for $60,000. The machine had an expected life of five years and is being depreciated on a straight-line basis with no salvage value. Link Company is a dealer for the machine. Prepare a worksheet that shows income statements of Danner and Link with a column for eliminations. Be sure to include the distribution of income to the controlling and non-controlling interest