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Anderson Company, a 90% owned subsidiary of Philbin Corporation, transfers inventory to Philbin at a 25% gross profit rate. The following data are available pertaining

Anderson Company, a 90% owned subsidiary of Philbin Corporation, transfers inventory to Philbin at a 25% gross profit rate. The following data are available pertaining specifically to Philbin's intra-entity purchases from Anderson. Anderson was acquired on January 1, 2020.

2020 2021 2022
Purchases by Philbin $ 8,000 $ 12,000 $ 15,000
Ending inventory on Philbin's books 1,200 4,000 3,000

Assume the equity method is used. The following data are available pertaining to Anderson's income and dividends.

2020 2021 2022
Anderson's net income $ 70,000 $ 85,000 $ 94,000
Dividends paid by Anderson 10,000 10,000 15,000

Assuming there are no excess amortizations associated with the consolidation, and no other intra-entity asset transfers, compute the net income attributable to the noncontrolling interest of Anderson for 2020.

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