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Plug Products owns $80$ percent of the stock of Spark Filter Company, which it acquired at underlying book value on August $30,206.$ At that date, the fair value of the noncontrolling interest was equal to $20$ percent of the book value of Spark Filter. Summarized trial balance data for the two co Plug Products owns $80$ percent of the stock of Spark Filter Company, which it acquired at underlying book value on August $30,206.$ At that date, the fair value of the noncontrolling interest was equal to $20$ percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December $31,20$X$8,$ are as follows:

$\backslash$table$[[,$Plug Products,Spark Filter Company,$],[$Cash and Accounts Receivable,Credit,Debit,Credit,Debit$],[$Inventory$,$$$165,000,,$$$109,000,],[$Buildings and Equipment $($net$),223,000,129,000,,],[$Investment in Spark Filter Company,$276,000,,196,000,],[$Cost of Goods Sold,$267,733,,135,000,],[$Depreciation Expense,$170,000,,25,000,$$$85,333],[$Current Liabilities,$35,000,$$$184,933,87,000,],[$Common Stock,,$194,000,215,000,],[$Retained Earnings,,$459,000,206,667,],[$Sales$,,256,667,,],[$Income from Spark Filter Company,,$42,133,$$$594,000,],[$Total$,$$$1,136,733,$$$1,136,733,$$$594,000,]]$

On January $1,20$X$8,$ Plug's inventory contained filters purchased for $$65,000$ from Spark Filter, which had produced the filters for $$45,000.$ In $20$X$8,$ Spark Filter spent $$105,000$ to produce additional filters, which it sold to Plug for $$151,667.$ By December $31,20$X$8,$ Plug had sold all filters that had been on hand January $1,20$X$8,$ but continued to hold in inventory $$45,500$ of the $208$ purchase from Spark Filter.

Required: COMPUTE CONSOLIDATED NET INCOME AND INCOME ASSIGNED TO THE CONTROLLING INTEREST IN THE $20$X$8$ CONSOLIDATED INCOME STATEMENT.

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