On January $1,2023,$ Doone Corporation acquired $60$ percent of the outstanding voting stock of Rockne Company for $$492,000$

consideration. At the acquisition date, the fair value of the $40$ percent noncontrolling interest was $$328,000,$ and Rockne's assets and

liabilities had a collective net fair value of $$820,000.$ Doone uses the equity method in its internal records to account for its investment

in Rockne. Rockne reports net income of $$300,000$ in $2024.$ Since being acquired, Rockne has regularly supplied inventory to Doone

at $25$ percent more than cost. Sales to Doone amounted to $$360,000$ in $2023$ and $$460,000$ in $2024.$ Approximately $35$ percent of the

inventory purchased during any one year is not used until the following year.

Required:

a$.$ What is the noncontrolling interest's share of Rockne's $2024$ income?

b$.$ Prepare Doone's $2024$ consolidation entries required by the intra$-$entity inventory transfers.

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What is the noncontrolling interest's share of Rockne's $2024$ income?

Noncontrolling interest's share