Separate income statements of Quail Corporation and its 80%-owned subsidiary, Savannah Corporation, for 2016 are as follows: Quail acquired its 80% interest in Savannah Corporation when the book values were equal to the fair values. The gain on equipment relates to equipment with a book value of $85,000 and a 7-year remaining useful life that Savannah sold to Quail for $120,000 on January 1, 2016. The straight-line depreciation method is used. Prepare a consolidated income statement for Quail Corporation and Subsidiary for the year by preparing a consolidated worksheet