Arryn, Inc., owns 95 percent of Stark Corporations voting stock. The acquisition price exceeded book and fair value by $85,500, which was appropriately attributed to goodwill. Stark holds 15 percent of Arryns voting stock. The price paid for the shares by Stark equaled 15 percent of the parents book value and the net fair values of its assets and liabilities.

During the current year, Arryn reported separate operating income of $228,000 and dividend income from Stark of $52,500. At the same time, Stark reported separate operating income of $78,000 and dividend income from Arryn of $18,000.

What is the net income attributable to the noncontrolling interest under the treasury stock approach?