On January 1, 20X2, Peter Limited purchased 70% of the outstanding voting common shares of Susan Limited at a cost of $ 139,200. At acquisition date, the carrying value of Susan Limited was $ 161,000, inventory was undervalued by $ 2,500, and depreciable capital assets were undervalued by $ 7,500. Relevant information for 20X5 is shown below.

Required
1. Calculate non-controlling interest in net income for 20X5 assuming consolidation is appropriate.
2. Calculate non-controlling interest in the consolidated statement of financial position as of the end of 20X5.
3. Calculate consolidated net income for 20X5, assuming a 10-year remaining life at acquisition date for capital assets and straight-line depreciation. Note that Peter Limited uses the cost method and that Susan Limited paid dividends during the year. Reported at End of20X5

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Peter 44,000 Susan 11,000 Net income and comprehensive income Dividends paid Current assets Investment in S (at cost) Capital assets (net) 4,000 1,000 $170,800 139,200 330,000 6640,000 $140,000 400,000 100,000 $640,000 40,000 160,000 $200,000 30,000 150,000 20,000 200,000 Liabilities Common shares Retained eamings (end)