1 Part 1 of 4 (The following information applies to the questions displayed below] Sink Corporation prepared the following summarized balance sheet on January 1, 20x1 Assets $150,000 Liabilities Common Stock Preferred Stock Retained Earnings $150,000 Total Liabilities & Equities $ 20,000 38,000 40,000 60,000 $150,000 Total Assets points ALL Pim Relurences Plumber Company acquires 80 percent of Sink Corporation's common stock on January 1, 20x1, for $80,000. At that date, the fair value of the common shares held by the noncontrolling interest is $20,000 Required: Select the correct answer for each of the following questions 1. The amount reported as noncontrolling interest in the consolidated balance sheet is