ABC acquired 70% interest of XYZ on January 1, 20x1 for P420,000. At that date XYZ had inventory and plant assets with market values greater than book values in amount of P50,000 and P90,000, respectively. The inventory and plant assets were assigned a remaining life of 6 months and 5 years respectively.

Assuming that XYZ had net income and dividends of P160,000 and P60,000 on 20x1 and 20x2income and dividends of P210,000 and P80,000, respectively, what is the balance in the non-controlling interest account at December 31, 20x2?

Select one:

169,200

136,800

276,000

223,200