P Corporation paid $140,000 for a 70% interest in S Inc. on January 1, 2014, when S had Capital Stock of $50,000 and Retained Earnings of $100,000. Fair values of net assets were the same as recorded book values. During 2014, S had income of $40,000, declared dividends of $15,000, On December 31, 2014, the consolidated financial statements will show income for Non controlling interest for 2014 ?

Select one:

a. 12,000

b. 28,000

c. 10,500

d. 40,000