Boulder, Inc., obtained 90 percent of Rock Corporation on January 1, 2016. Annual amortization of $22,000 is applicable on the allocations of Rock s acquisition-date business fair value. On January 1, 2017, Rock acquired 75 percent of Stone Company s voting stock. Excess business fair-value amortization on this second acquisition amounted to $8,000 per year. For 2018, each of the three companies reported the following information accumulated by its separate accounting system. Separate operating income figures do not include any investment or dividend income. _________________________Separate Operating ____ Dividends ______________________________ Income _________ Declared Boulder …………………………. $245,000 …………$120,000 Rock ……………………………. 85,000 ………….. 28,000 Stone …………………………… 150,000 ………….. 42,000 a. What is consolidated net income for 2018? b. How is consolidated net income distributed to the controlling and noncontrolling interests?

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