Refer to Exercise 6‑4. Using the same figures, assume that the merchandise mentioned was included in Pearce’s inventory, having been purchased from Searl.

375,000 to equipment of Searl Company with a five-year remaining life.
187,500 to land held by Searl Company.
112,500 to inventory of Searl Company. Searl uses the FIFO assumption in pricing its inventory, and
600,000 that could not be assigned to specific assets or liabilities of Searl Company.
$1,275,000 Total

Required:

Calculate the controlling interest in consolidated net income for 2019 and 2020.