Sogern is an 80%-owned subsidiary of Partplus Company, The two affiliates had the following separate income statements for 2011 and 2012 $ $ Sales Revenue Cost of Goods Sold Gross Profit Expenses Net Income Sagern Company Partplus Company 2011 2012 2011 2012 250,000 $ 300,000 $ 500.000 $ 540,000 150,000 $ 180,000 $ 310,000 $ 360,000 100,000 $ 120,000 $ 190,000 $ 180,000 45,000 $ 56,000$ 120,000 $ 125,000 55,000 $ 64,000 $ 70,000 $ 55,000 $ $ $ Sogern sells at the same gross profit percentage to all customers. During 2011, Sogern sold goods to Partplus for the first time in the amount of 5120,000 $30,000 of these sales remained in Partplus's ending inventory. During 2012, sales to Partplus by Sogern were $110,000, of which $20.000 sales were still in Partplus's December 31, 2012 inventory Required: Prepare consolidated income statements including the income distribution schedule to the controlling and noncontrolling interests for 2012 Sogern is an 80%-owned subsidiary of Partplus Company, The two affiliates had the following separate income statements for 2011 and 2012 $ $ Sales Revenue Cost of Goods Sold Gross Profit Expenses Net Income Sagern Company Partplus Company 2011 2012 2011 2012 250,000 $ 300,000 $ 500.000 $ 540,000 150,000 $ 180,000 $ 310,000 $ 360,000 100,000 $ 120,000 $ 190,000 $ 180,000 45,000 $ 56,000$ 120,000 $ 125,000 55,000 $ 64,000 $ 70,000 $ 55,000 $ $ $ Sogern sells at the same gross profit percentage to all customers. During 2011, Sogern sold goods to Partplus for the first time in the amount of 5120,000 $30,000 of these sales remained in Partplus's ending inventory. During 2012, sales to Partplus by Sogern were $110,000, of which $20.000 sales were still in Partplus's December 31, 2012 inventory Required: Prepare consolidated income statements including the income distribution schedule to the controlling and noncontrolling interests for 2012