Pat Company acquired an 80 percent interest in Sal Company on January 1, 2011, for $400,000 in excess of book value and fair value. On January 1, 2014, Pat had $1,000,000 par, 8 percent bonds outstanding with $40,000 unamortized discount. On January 2, 2014, Sal purchased $400,000 par of Pat’s bonds at par. The bonds mature on January 1, 2018, and pay interest on January 1 and July 1. Pat’s separate income, not including investment income, for 2014 is $800,000, and Sal’s reported net income is $500,000.

REQUIRED: Determine the following:

1. Controlling interest share of consolidated net income for Pat Corporation and Subsidiary for 2014

2. Noncontrolling interest share for 2014