On January 1, 20X8, Parent Company purchased 75% of the common stock of Subsidiary Company for $360,000. On this date, Subsidiary had common stock, other paid-in capital, and retained earnings of $20,000, $130,000, and $200,000, respectively. Any excess of cost over book value is due to goodwill. Parent accounts for the Investment in Subsidiary using cost method. On January 1, 20X8, Subsidiary sold $100,000 par value of 6%, ten-year bonds for $97,000. The bonds pay interest semi-annually on January 1 and July 1 of each year. On January 1, 20X9, Parent repurchased all of Subsidiary's bonds for $99,100. The bonds are still held on December 31, 20X9. Both companies have correctly recorded all entries relative to bonds and interest, using straight-line amortization for premium or discount. Calculate NCI's portion of consolidated net income for the year ended of December 31, 20X9. Round all computations to the nearest dollar

	Trial Balance		Eliminations and
	Parent	Sub.	Adjustments
Account Titles	Company	Company	Debit		Credit
Interest Receivable	3,000
Other Current Assets	214,400	340,500
Investment in Sub. Company	( )
Investment in bonds	( )

Interest Payable		( )
Other Current Liabilities	(124,000)	(70,000)
Bonds Payable, 8%		(100,000)
Discount on Bonds Payable		( )