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Angela, Inc., holds a 90 percent interest in Corby Company. During 2014, Corby sold inventory costing $138,000 to Angela for $184,000. Of this inventory, $59,800
Angela, Inc., holds a 90 percent interest in Corby Company. During 2014, Corby sold inventory costing $138,000 to Angela for $184,000. Of this inventory, $59,800 worth was not sold to outsiders until 2015. During 2015, Corby sold inventory costing $81,900 to Angela for $126,000. A total of $59,600 of this inventory was not sold to outsiders until 2016. In 2015, Angela reported net income of $197,000 while Corby earned $112,000 after excess amortizations. What is the noncontrolling interest in the 2015 income of the subsidiary?
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