Help Save & Exit Submit Required Information Use the following information to answer questions 7 and 8 On January 1, 2016, Pride Corporation purchased 90 percent of the outstanding voting shares of Star, Inc. for $429,000 cash. The acquisition date fair value of the noncontrolling Interest was $47,600. At January 1, 2016, Star's net assets had a total carrying amount of $333,200. Equipment (elght-year remaining life) was undervalued on Star's financial records by $68,000. Any remaining excess fair value over book value was attributed to a customer list developed by Star (four-year remaining life), but not recorded on its books. Star recorded net income of $59,500 in 2016 and $68,000 in 2017. Each year since the acquisition, Star has declared a $17,000 dividend. At January 1, 2018, Pride's retained earnings show a $212,500 balance. 51:23 Selected account balances for the two companies from their separate operations were as follows: 2018 Revenues 2018 Expenses Pride $423, 400 297,800 Star $ 242,400 165,900 Problem 4-7 (LO 4-4) What is consolidated net income for 2018? MacBook Pro