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Placid Lake Corporation acquired

$8$

$0$

$$percent of the outstanding voting stock of Scenic, Incorporated, on January

$1$

$,$

$2$

$0$

$2$

$3$

$,$

$$when Scenic

had a net book value of $

$6$

$3$

$0$

$,$

$0$

$0$

$0$

$.$

$$Any excess fair value was assigned to intangible assets and amortized at a rate of $

$6$

$,$

$0$

$0$

$0$

$$per year.

Placid Lake's

$2$

$0$

$2$

$4$

$$net income before consideration of its relationship with Scenic

$($

and before adjustments for intra

$-$

entity sales

$)$

$$was

$

$5$

$3$

$0$

$,$

$0$

$0$

$0$

$.$

$$Scenic reported net income of $

$3$

$4$

$0$

$,$

$0$

$0$

$0$

$.$

$$Placid Lake declared $

$1$

$6$

$0$

$,$

$0$

$0$

$0$

$$in dividends during this period; Scenic paid

$

$6$

$3$

$,$

$0$

$0$

$0$

$.$

$$At the end of

$2$

$0$

$2$

$4$

$,$

$$selected figures from the two companies' balance sheets were as follows:

During

$2$

$0$

$2$

$3$

$,$

$$intra

$-$

entity sales of $

$1$

$9$

$0$

$,$

$0$

$0$

$0$

$($

original cost of $

$8$

$8$

$,$

$0$

$0$

$0$

$)$

$$were made. Only

$2$

$0$

$$percent of this inventory was still held within

the consolidated entity at the end of

$2$

$0$

$2$

$3$

$.$

$$In

$2$

$0$

$2$

$4$

$,$

$

$3$

$2$

$0$

$,$

$0$

$0$

$0$

$$in intra

$-$

entity sales were made with an original cost of $

$8$

$2$

$,$

$0$

$0$

$0$

$.$

$$Of this

merchandise,

$3$

$0$

$$percent had not been resold to outside parties by the end of the year.

If the intra

$-$

entity sales were upstream, how would consolidated net income be allocated to the controlling and noncontrolling interest?

If the intra

$-$

entity sales were downstream, how would consolidated net income be allocated to the controlling and noncontrolling interest?

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