The comparative consolidated income statements of a parent and its 75%-owned subsidiary were prepared incorrectly as at December 31 and are shown in the table given below. The following items were overlooked when the statements were prepared:

The Year 5 gain on sale of assets resulted from the subsidiary selling equipment to the parent on September 30. The parent immediately leased the equipment back to the subsidiary at an annual rental of $34,800. This was the only intercompany rent transaction that occurred each year. The equipment had a remaining life of five years on the date of the intercompany sale.

The Year 6 gain on sale of assets resulted from the January 1 sale of a building, with a remaining life of seven years, by the subsidiary to the parent.

Both gains were taxed at a rate of 40%.

CONSOLIDATED INCOME STATEMENTS
		Year 5			Year 6
Miscellaneous revenues	$	845,000		$	920,000
Gain on sale of assets		23,200			55,300
Rental revenue		8,700			34,800
		876,900			1,010,100
Miscellaneous expenses		415,000			496,140
Rental expense		66,000			70,000
Depreciation expense		94,000			94,000
Income tax expense		90,500			104,000
Non-controlling interest		42,000			7,440
		707,500			771,580
Net income	$	169,400		$	238,520

Required:

Prepare correct consolidated income statements for Years 5 and 6. (Input all values as positive numbers. Leave no cells blank - be certain to enter zero wherever required. Omit $ sign in your response.)

Parent Company
Corrected Consolidated Income Statements
Years 5 and 6
	Year 5		Year 6
Miscellaneous revenues	$		$
Miscellaneous expense
Rent expense
Depreciation expense
Income tax expense
Consolidated net income	$		$
Attributable to:
Shareholders of Parent	$		$
NCI
	$		$