King Company owns a 90 percent interest in the outstanding voting shares of Pawn Company. No excess fair-value amortization resulted from the acquisition. Pawn reports a net income of$l 10,000 for the current year. Intercompany sales occur at regular intervals between the two companies. Unre¬ alized gross profits of $30,000 were present in the beginning inventory balances, whereas $60,000 in similar gross profits were recorded at year-end. What is the noncontrolling interest’s share of the subsidiary’s net income? LO8