Question 3-B: 15 marks) Maine Corporation owns 90% of Anan Corporation, Anan Corporation owns 85% of Bar Corporation and Badee Corporation owns 5% of Anan Corporation. The separate net comes lexcluding investment income) of Paine, Anan, and Badee are $400,000, $160.000 and $220,000, respectively. Assume the investments were acquired at a cost equal to the book value of each investment, which also equals the fair value. Required 1. Calculate revised net incomes for Paine, Anan, and Badee by using the conventiona lequation) method 2. Determine the controlling interest share of consolidated net income and the noncontrolling interest shares. Question 3-B: 15 marks) Maine Corporation owns 90% of Anan Corporation, Anan Corporation owns 85% of Bar Corporation and Badee Corporation owns 5% of Anan Corporation. The separate net comes lexcluding investment income) of Paine, Anan, and Badee are $400,000, $160.000 and $220,000, respectively. Assume the investments were acquired at a cost equal to the book value of each investment, which also equals the fair value. Required 1. Calculate revised net incomes for Paine, Anan, and Badee by using the conventiona lequation) method 2. Determine the controlling interest share of consolidated net income and the noncontrolling interest shares