Patrick Corporation acquired 80 percent of the outstanding voting stock of Silver Company on January 1, 2020, for $428,000 in cash and other consileration. At the acquisition date, Patrick assessed Silver's identifiable assets and liabilities at a collective net fair value of $535,000, and the fair value of the 20 percent noncontrolling interest was $107,000. No excess fair value over book value amortization accompanied the acquisition.

Silver sells inventory to Patrick at a markup equal to 60 percent of cost. Intra-entity transfers were $51,000 in 2020 and $81,000 in 2021. Of this inventory, $22,000 of the 2020 transfers were retained and then sold by Patrick in 2021, whereas $36,000 of the 2021 transfers were held until 2022.

Silver reports net income of $62,000 for year 2021. The amount of net income attributable to noncontrolling interest on 2021 consolidated financial statement would be:

Choices:

$13,450

$11,350

$12,400

$10,720