ion 7 t red X co, purchased 80% of Y Common stock at 1/1/2020 for $ 300,000 ,on the same date the y co stock was $ 100,000 and retained earning $120,000, at acquisition date the net assets of y co. book value was equal to fair value except ( inventory FV more than BV of $26,000) and (land its FV more than BV10,000 ) (Building its FV more than BV by $ 14,000) but equipment its FV less than B V by $10,000) if Y CO. reported $160,000 net income for 31/12/2020 and paid $ 60,000 dividends. dout of g question Other information 1- the y inventory completely sold during 2020 2- the building useful life was 7 years, but equipment 5 years 3- there is no impairment for goodwill during 2020 what is amount of NCI in net income reported in consolidated income statement on 31/12/2020 Select one: a. 32,000 b. 25,200 c. 14,800 d. 26,800 tion 8 et on 1/1/2019 X CO acquired 80% of Y common stock for $150,000 in the same day the y net assets was $ 140,000 in the same date the fair value of assets and liabilities were equal .year ended 31/12/2019 Y reported income $50,000 declared dividend $30,000 X using equity methods what is non controlling interest in net assets balance on 31/12/2019 ered ed out of Select one: ag question a. 4,000 b. 10,000 c. 41,500 d. 37,500