On January 1, 20X1, Ashley Inc. pays $350,000 for 70% of Marea Co.'s outstanding common stock in a purchase transaction. Marea reported common stock on that date of $250,000 with retained earnings of $100,000. Equipment, which had a ten-year remaining life, was undervalued in Marea's financial records by $70,000. During the first year, Marea reported net income of $40,000 and paid dividends of $15,000. What amount should be reported as Noncontrolling Interest in Marea Co. on the consolidated balance sheet as of December 31, 20X1?