P CO owns a 90% interest in S Co, purchased at a time when the book values of S recorded assets and liabilities were equal to fair values. During 2014, S sold merchandise to P cost 32,000 for $40,000 . At December 31, 2014, 75% of this merchandise is still in P inventory. Separate incomes for P&S are summarized as follows:

P S

Sales 900,000 200,000

Cost of sales 400,000 100,000

Gross profit 500,000 100,000

Operating expenses 200,000 80,000

Separate income 300,000 20,000 What is amount of NCI in Net Income reported in Consolidated income statement?

Select one:

a. 2,000

b. 1,400

c. 1,800

d. 1,200