Angela, Inc., holds a 90 percent interest in Corby Company. During 2014, Corby sold inventory...
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Angela, Inc., holds a 90 percent interest in Corby Company. During 2014, Corby sold inventory costing $148,000 to Angela for $185,000. Of this inventory, $55,200 worth was not sold to outsiders until 2015. During 2015, Corby sold inventory costing $144,200 to Angela for $206,000. A total of $69,800 of this inventory was not sold to outsiders until 2016. In 2015, Angela reported net income of $176,000 while Corby earned $92,500 after excess amortizations. What is the noncontrolling interest in the 2015 income of the subsidiary?
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