Polly and Subsidiaries

Income Allocation Schedule

For the year 2014
  Polly Sally Jolly Wally
Separate earnings $ 550,000 $ 350,000 $ 200,000 $   60,000
Add: Realized profit from sale of   $    15,000   $    10,000
land
Less: Unrealized profit from sale _____________ $ (20,000)  ____________ $  (20,000)
of land
         
Separate realized earnings $ 550,000 $ 345,000 $ 200,000 $   50,000
Allocate Wally’s income        
50% to Jolly     $   25,000 $  (25,000)
10% to Sally   $      5,000   $  (  5,000)
30% to Polly $   15,000   ___________ $  (15,000)
      $ 225,000  
Allocate Jolly’s income        
70% to Sally   $   157,500 $  (157,500)  
    $ 507,500    
Allocate Sal’s income        
80% to Polly $ 406,000 $(406,000)    
Patent     (500,000) ______________________________________
Controlling share of net income $ 356,000      
Non-controlling interest share