3. Calculate the total amount of noncontrolling interest share.

E 10-3 Preferred stock held by parent with dividend arrearage On January 1, 2014, Pop AG purchased 750 shares of outstanding preferred stock from Ron AG, its 90 percent-owned affiliate, at $100 per share. The stockholders’ equity of Pop AG at the time was as follows:

Common stockholders’ equity $415,000 Preferred stockholders’ equity (1,000 shares, 104 call price per share, $10 per share dividend arrearage)

$114,000 Ron reported net income of $50,000 and passed dividend during 2014.

REQuIRED: Prepare the necessary entries needed for Pop AG to account for the transactions above.