Parent owned 5,000 shares (80%) of the outstanding 20%, $50 par, peferred stock and 70% of the outstanding common stock of Sub. Assuming there are no excess amortization or intra- entity transactions, and Sub reports net income of $330,000, what is the noncontrolling interest in the subsidiary's income? Would the following be correct? 5,000 * $50 = $250,000 $330,000 - $250,000 = $80,000 $80,000 * 70% = $56,000 5,000 * 20% = $1,000 $56,000 * 30% = $16,800 Noncontrolling interest in subsidiary's income = $17,800