f$75600$On January $1,2019,$ Monica Company acquired $70$ percent of Young Company$$s outstanding common stock for $$756,000.$ The fair value of the noncontrolling interest at the acquisition date was $$324,000.$

Young reported stockholders$$ equity accounts on that date as follows:

Common stock$$$$10$ par value $ $300,000$

Additional paid$-$in capital $40,000$

Retained earnings $600,000$

In establishing the acquisition value, Monica appraised Young's assets and ascertained that the accounting records undervalued a building $($with a five$-$year remaining life$)$ by $$60,000.$ Any remaining excess acquisition$-$date fair value was allocated to a franchise agreement to be amortized over $10$ years.

During the subsequent years, Young sold Monica inventory at a $20$ percent gross profit rate. Monica consistently resold this merchandise in the year of acquisition or in the period immediately following. Transfers for the three years after this business combination was created amounted to the following:

Year Transfer Price Inventory Remaining

at Year$-$End

$($at transfer price$)$

$2019$ $ $70,000$ $ $29,000$

$202090,00031,000$

$2021100,00037,000$

In addition, Monica sold Young several pieces of fully depreciated equipment on January $1,2020,$ for $$55,000.$ The equipment had originally cost Monica $$88,000.$ Young plans to depreciate these assets over a five$-$year period.

In $2021,$ Young earns a net income of $$170,000$ and declares and pays $$50,000$ in cash dividends. These figures increase the subsidiary's Retained Earnings to a $$930,000$ balance at the end of $2021.$ During this same year, Monica reported dividend income of $$35,000$ and an investment account containing the initial value balance of $$756,000.$ No changes in Young's common stock accounts have occurred since Monica's acquisition.

Compute the net income attributable to the noncontrolling interest for $2021.$