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. Springs balance sheet contained the following amounts at the time of the combination:

Cash	$ 20,000	Accounts Payable	$ 25,000
Accounts Receivable	60,000	Bonds Payable	75,000
Inventory	70,000	Common Stock	100,000
Buildings and Equipment (net)	350,000	Retained Earnings	300,000
Total Assets	$ 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 Springs $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:

		$12,500.
		$17,500.
		$2,000.
		$7,000.