Below are summarized income statement for the year 2017, for PAMT Corporation and its 60 percent owned subsidiary, STE: PAMT STE Sales $3,000,000 $ 800,000 on Income from STE 186,000 Cost of Sales (1,100,000) (300,000) Depreciation Expense (100,000) (40,000) Other Expenses (398,000) (150,000) Net Income $ 400,000 $ 310,000 PAMT has acquired its 60 percent interest in STE Company at book value on Jan 1st, 2016 when the fair value of STE's assets and liabilities were equal to recorded book values. No intercompany transaction in the years 2016 and 2017. Prepare a consolidated income statement for the PAMT Corp. and the subsidiary