Show step by step calculations

On January 1, 2014, Doone Corporation acquired 60% of the outstanding voting stock of Rockne Company for $300,000 consideration. At the acquisition date, the fair value of the 40% noncontrolling interest was $200,000 and Rockne's assets and liabilities had collective net fair value of $500,000. Doone used the equity method in its internal records to account for its investment in Rockne. Rockne reports net income of $200,000 in 2014. Since the acquisition, Doone has regularly supplied inventory to Rockne at 25% more than cost. Sales to Rockne amounted to $250,000 in 2014 and $300,000 in 2015. Approximately 30% of the inventory purchased during any one year is used until the following year. Doone Corporation had operating net income for 2014 of $ 500,000. Required: Calculate the following amounts for 2014. Write the final answer on the line provided. Show and label all calculations. No points without calculations A. The subsidiary's Realizable Net income _$__________ B. The parent's Equity income from the subsidiary _$________ c. The Noncontrolling interest Net income _$________ D. The Controlling Net income _$__________ E. The Consolidated Net income _$_________