Petunia Corporation acquired 90 percent of the stock of Spring Company on January 1, 20X2, for $360,000. At that date, the fair value of the noncontrolling interest was $40,000. Spring's balance sheet contained the following amounts at the time of the combination: Cash $ 20,000 Accounts Payable Accounts Receivable 60,000 Bonds Payable $25,000 75,000 Inventory 70,000 Common Stock 100,000 Buildings and Equipment (net) 350,000 Total Assets Retained Earnings 300,000 $ 500,000 Total Liabilities & Equity $ 500,000 During each of the next three years, Spring reported net income of $70,000 and paid dividends of $20,000. On January 1, 20X4, Petunia sold 3,000 shares of Spring's $5 par value shares for $90,000 in cash. Petunia used the fully adjusted equity method in accounting for its ownership of Spring Company. Based on the preceding information, in the consolidation entries to complete a full consolidation worksheet for 20X4, noncontrolling interest in the net income of Spring will be credited for: $2,000. $17,500. $12,500. $7,000