The consolidated net income for the year 2018 of pride corporation is $203000
Explanation:
Consideration transferred by Pride $540,000
Non controlling interest fair value 60,000 =
Star acquisition-date fair value $600,000 -Star book value 420,000
= Excess fair over book value $180,000
Amort.
To equipment (8 year remaining life) $ 80,000/8= $10,000
To customer list (4 year remaining life) 100,000/4 =$25,000
= $35,000
Combined revenues=$498000+$285000= $783,000
Combined expenses =$350000+$195000=$545,000
Excess fair value amortization =$35,000 -$545000=$ 580,000
Consolidated net income =Combined revenues-Excess fair value amortization
Consolidated net income=$783,000 -$ 580,000 =$203,000
Hence the consolidate net income for the year 2018 is $203000