I am working on a homework assignment. I have tried several methods to solve and I am stuck. I followed the book's explanation step for step and it is not working.

I need to solve for Consolidated Net Income. The only information I was provided is listed below.

I have been finding the percent of ownership for the Dividends and adding this investment income to the operating income. I did this for green and then adding that to Purple, but not including the investment income for purple's ownership of green.

The amounts I have tried and was told was incorrect are: 520930, 179730, 312830, 198330, 230530, 183200, 257440, 209641

I cannot think of a better way to do this and have exhausted my book's resources.

Can you Help?

Question from Connect

Purple Corporation recently attempted to expand by acquiring ownership in Green Company. The following ownership structure was reported on December 31, 20X9: 33.33 Percentage of points Investor Investee Ownership Held Purple Corporation Green Company 70% Green Company Orange Corporation 10 Orange Corporation Blue Company 60 Green Company Yellow Company 40 eBook The following income from operations (excluding investment income) and dividend payments were reported by the companies during 20X9: Ask Operating Dividends Company Income Paid Purple Corporation $ 91, 600 $61, 900 References Green Company 20, 400 9,300 Orange Corporation 39,500 30, 500 Blue Company 102, 500 81, 800 Yellow Company 58, 250 39, 700 Required: Compute the amount reported as consolidated net income for 20X9. Consolidated net incomePurple Green Orange Blue Yellow Dividends Purple Green Orange Blue Yellow Purple 0.7 Purple 6510 6510 Green 0.1 0.4 Green 3050 135880 138930 Ornange 0.6 Ornange 49080 49080 Blue Blue 0 Yellow Yellow 0 *Dividends * Ownership % Operating Investment Intevstment + Income Dividends Income Operating Income Purple 91600 61900 6510 98110 Green 20400 9300 138930 159330 Tried Ornange 39500 30500 49080 88580 250930 179730 312830 198330 Blue 102500 81800 0 102500 230530 183200 257440 209641 Yellow 58250 339700 0 58250