On January 1, 2020, Chamberlain Corporation pays $589,600 for a 60 percent ownership in Neville. Annual excess fair-value amortization of $19,900 results from the acquisition. On December 31, 2021, Neville reports revenues of $469,000 and expenses of $313,000 and Chamberlain reports revenues of $753,000 and expenses of $442,000. The parent figures contain no income from the subsidiary. What is consolidated net income attributable to Chamberlain Corporation

Powell company began the 2018 accounting period with $40,000 cash, $86,000 inventory, $60,000 common stock, and $66,000 retained earnings. during 2018, powell experienced the following events: sold merchandise costing $58,000 for $99,500 on account to prentise furniture store. delivered the goods to prentise under terms fob destination. freight costs were $900 cash. received returned goods from prentise. the goods cost powell $4,000 and were sold to prentise for $5,900. granted prentise a $3,000 allowance for damaged goods that prentise agreed to keep. collected partial payment of $81,000 cash from accounts receivable. required record the events in a statements model shown below. prepare an income statement, a balance sheet, and a statement of cash flows. why would prentise agree to keep the damaged goods?