Parent Ltd acquired 75% of the shares of Subsidiary Ltd on January 1, 2021 for $600,000 when the equity of Subsidiary Ltd consisted of $700,000 share capital and $200,000 retained earnings. All identifiable assets and liabilities of Subsidiary Ltd are recorded at fair value at this date except for inventory which was undervalued by $10,000 (all sold by Dec. 31, 2021) and plant which was overvalued by $20,000 with a further 4-year life. The income tax rate is 30% and both firms' financial reporting date is December 31.

Additional information:

1. During the year Subsidiary Ltd sold inventory to Parent Ltd with a before-tax profit of $30,000. Parent Ltd has since resold 60% of these items.
2. During the year Parent Ltd sold inventory to Subsidiary Ltd with a before-tax profit of $8,000. Parent Ltd still has these items on hand.
3. On July 1, 2021, Subsidiary Ltd sold equipment to Parent Ltd recording a before-tax profit of $16,000. The equipment had a further 4-year life.
4. Subsidiary Ltd earned a net profit of $100,000 and declared $10,000 dividends for 2021.

Required:

1)Calculate NCI share of profit for 2021.

2)Calculate NCI share of equity at 31 December 2021.