On January 1, 2014, Doone Corporation acquired 80 percent of the outstanding voting stock of Rockne Company for $496,000 consideration. At the acquisition date, the fair of the 20 percent noncontrolling interest was $124,000 and Rockne's assets and liabilities had a collective net fair value of $620,000. Doone uses the equity method in its interest records to account for its investment in Rockne. Rockne reports net income of $200,000 in 2015.Since being acquired, Rockne has regularly supplied inventory to Doone at 25 percent more than cost. Sales to Doone amounted to $260,000 in 2014 and $360,000 in 2015. Approximately 30 percent of the inventory purchaseed duting any one year is not used until the following year.

a. What is the noncontrolling interest's share of Rockne's 2015 income?

Noncontrolling interest's share

b. Prepare Doone's2015 considration entries required by the intra-entity inventory transfers. (If no entry is required for a transaction/event, select"No journal entry required" in the first account field.)

Transaction Consoildating Entries Debit Credit

(1) Prepare entry *G

(2) Prepare entry TI

(3) Prepare entry G