Emmy Company buys $30\%$ of Soupy, Incorporated$$s common stock on January $1$ of the current year for $$440,000.$ The equity method of accounting is used. Soupy$$s net assets on that date totaled $$1,100,000.$ Soupy immediately begins selling inventory to Emmy as follows:

Year Cost to Soupy Transfer Price Amount Held by Emmy at Year End $($at Transfer Price$)$

$1$st year $ $50,000$ $ $120,000$ $ $24,000$

$2$nd year $100,000200,00080,000$

Inventory held at the end of one year is sold at the beginning of the next. Soupy reports net income of $$110,000$ in the first year and $$150,000$ in the second year while paying $$50,000$ in dividends each year. What should Emmy Company report as Equity in Soupy$$s Income at the end of the second year?