A parent sells land to its 85%-owned subsidiary at a gain of $70,000. The following year, the subsidiary sells the land to an outside entity for a gain of $30,000. How is the noncontrolling interest in net income affected in the year the subsidiary sells the land? Increase of $10 Increase of $15 Decrease of $4 No effect

A parent sells land to its 85%-owned subsidiary at a gain of $70,000. The following year, the subsidiary sells the land to an outside entity for a gain of $30,000. How is the noncontrolling interest in net income affected in the year the subsidiary sells the land? Increase of $10 Increase of $15 Decrease of $4 No effect