Accounting computation

Carroll Company sells all its output at 25 percent above cost. Pacific Corporation purchases all its inventory from Carroll. Selected information on the operations of the companies over the past three years is as follows:

(Carroll Company)

Sales to
Pacific Corp Net Income

2002 $200000 $ 100000
2003 $175000 $ 90000
2003 $ 225000 $ 160000

Pacific Company

Inventory Operating Income
Dec 31

2002 $ 70000 $150000
2003 $105000 $240000
2004 $120000 $ 300000

Pacific acquired 60 percent of the ownership of Carroll on January 1, 20X1, at underlying book value.

Required:

Compute consolidated net income and income assigned to the controlling interest for 2002, 2003, and 2004.