Park Company acquired an 80% interest in the common stock of Southdale Company for $1,540,000 on July 1, 2016. Southdale Company's stockholders' equity on that date consisted of:

Common stock $800,000

Other contributed capital 400,000

Retained earnings 330,000

Required:

Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:

1. Parent company concept.
2. Economic unit concept.