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:
Service Time
The total time a customer is being served, including the time it takes to process an order, deliver a service, or a combination thereof.
Service Requirements
Specifications or conditions that must be met to fulfill a service.
Dental Clinic
A healthcare facility specializing in the diagnosis, prevention, and treatment of oral health issues, offering services such as dental check-ups, treatments, and surgeries.
Patients Arriving
The occurrence or process of patients coming to a healthcare facility for treatment or consultation.
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