Summer Company sells all its output at 25 percent above cost. Parade Corporation purchases all its inventory from Summer. Selected information on the operations of the companies over the past three years is as follows:

Summer Company Parade Corporation

Year Sales to Parade Corp. Net Income Inventory, Dec. 31 Operating Income

20X2 $202,000 $102,000 $70,700 $157,000

20X3 177,000 92,000 106,200 253,000

20X4 273,000 162,000 145,600 304,000

Parade acquired 60 percent of the ownership of Summer on January 1, 20X1, at underlying book value.

Required:

Compute consolidated net income and income assigned to the controlling interest for 20X2, 20X3, and 20X4