On January 1, 20X5, Purple Inc. purchased 80% of the common shares of Yellow Corp. for $1,200,000. On the date of acquisition, Yellow’s shareholders’ equity was as follows:

Preferred shares: 8% non-cumulative; callable at $100; 2,000 shares outstanding.........$ 200,000

Common shares: no par value; 20,000 shares outstanding...................................................400,000

Retained earnings........................................................................................................................608,000

Total..........................................................................................................................................$1,208,000

Any fair value increment is allocated to goodwill. During 20X5, Yellow earned a net income of $400,000 and paid dividends of $300,000.

Required

1. What is the amount of non-controlling interest on the consolidated statement of financial position at January 1, 20X5?

2. What is the amount of non-controlling interest on the consolidated statement of financial position at December 31, 20X5?