Northridge, Inc., buys 40% of Matador Company on January 1, 2019. for $550,000. The equity method of accounting is to be used, Matador's net assets on that date were $1.2 million. Any excess of cost over book value is attributable to a trade name with a 20-year remaining life. Matador immediately begins supplying inventory to Northridge as follows:

Amount Held by Northridge

Year Cost to Matador Transfer Price At Year End

(at transfer price)

2019 $70,000 $100,000 $25,000

2020 $96,000 $150,000 $45,000

Inventory held at the end of one year by Northridge is sold at the beginning of the next. Matador reports net income of $100,000 in 2019 and $150.000 in 2020 and declares (and pays) $20.000 in dividends each year. What is the equity income in Matador to be reported by Northridge in 2019? in 2020?