The affiliation structure for Place Corporation and its affiliates is as follows:

During 2011 the separate incomes of the affiliates were as follows:
Place ............................. $400,000
Lake ............................. $160,000
Marsh ........................... $140,000
Lake's income includes $40,000 unrealized profit on land sold to Marsh during 2011.
REQUIRED
Prepare a schedule that shows the allocation of income among the affiliates and also shows controlling and noncontrolling interest shares of consolidated net income for 2011.

Transcribed Image Text:

Place 60% 70% Lake Marsh 20%