Mighty Company purchased a 60 percent interest in Lowly Company on January 1, 2013, for $597,600 in cash. Lowlys book value at that date was reported as $845,000 and the fair value of the noncontrolling interest was assessed at $398,400. Any excess acquisition-date fair value over Lowlys book value is assigned to trademarks to be amortized over 20 years. Subsequently, on January 1, 2014, Lowly acquired a 20 percent interest in Mighty. The price of $368,000 was equivalent to 20 percent of Mightys book and fair value.

Neither company has paid dividends since these acquisitions occurred. On January 1, 2014, Lowlys book value was $1,069,000, a figure that rises to $1,126,250 (Common Stock of $300,000 and Retained Earnings of $826,250) by year-end. Mightys book value was $1.84 million at the beginning of 2014 and $1.94 million (Common Stock of $1 million and Retained Earnings of $940,000) at December 31, 2014. No intra-entity transactions have occurred and no additional stock has been sold. Each company applies the initial value method in accounting for the individual investments.

a.	Prepare worksheet entries which are required to consolidate these two companies for 2014? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

b.	What is the net income attributable to the noncontrolling interest for this year?