Pinata Corporation acquired an 80% interest in Smackem Inc.for $130,000 on January 1,2014,when Smackem had Capital Stock of $125,000 and Retained Earnings of $25,000.Assume the fair value and book value of Smackem's net assets were equal on January 1,2014.Pinata's separate income statement and a consolidated income statement for Pinata and Subsidiary as of December 31,2014,are shown below. 
Smackem's separate income statement must have reported net income of
Definitions:
Males
Refers to the biological category of the sex that produces small, mobile gametes (spermatozoa) in most sexual reproduction systems.
Females
The sex that typically produces ova (egg cells) and possesses XX chromosomes, often associated with specific biological and reproductive functions in many species, including humans.
Attachment
An emotional bond that forms between individuals, crucial for personal development, and originated in early childhood.
Patterns of Attachment
The characteristic ways in which individuals relate to others, especially in the context of intimate and caregiving relationships, determined early in life and influencing subsequent relationships.
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