roblem #3 (15 points) Presented below are selected items of financial information for Dad Inc. and Kid Co. On January 1 , 2016, Dad purchased for cash 70% of the common stock of Kid. The fair value of the noncontrolling interest at the acquisition date was $84,000. Consolidated net income for 2016 was $356,000 and there was the following additional information available: Dad Co.Kid Co $95,000 $18,000 Retained earnings 1/1/2016 Net income for 2016 included in the? consolidated financial statements $220,000 Dividends paid in 2016 Compute the following balances as of December 31, 2016: 1) Consolidated net income attributable to the controlling interest $60,000 $48,000 2) Consolidated retained earnings: 3) Noncontrolling interest in the consolidated shareholders' equity section (aka, NCI balance)