On January $1$ of the year of acquisition, Ashley Incorporated pays $$300,000$ for $60\%$ of Marea Company$$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$$s financial records by $$20,000.$ During the due diligence process, it was discovered that Marea had a patent that was not on the books, but had a market value of $$50,000.$ The patent has a useful life of $10$ years.

Marea earns income and pays cash dividends as follows:

Year Net Income Dividends Paid

Acquisition year $ $40,000$ $ $15,000$

First year $ $60,000$ $ $20,000$

Second year $ $90,000$ $ $30,000$

On the balance sheet at the end of the second year, what amount should be reported as noncontrolling interest in Marea Company at the end of the second year?

Multiple Choice

$$250,000$

$$241,600$

$$276,000$

$$341,600$