Pirate Transport bought 80% of the outstanding voting stock of Seaways Shipping at book value several years ago. (At the time of purchase, the fair value and book value of Seaways' net assets were equal.) Pirate sells merchandise to Seaways at 120% above Pirate's cost. Intercompany sales from Pirate to Seaways for 2014 were $450,000. Unrealized profits in Seaways' December 31, 2013 inventory and December 31, 2014 inventory were $17,000 and $15,000, respectively. Seaways reported net income of $750,000 for 2014.

Required: Calculate the following:

1. Parents share of subsidiary net income in 2014

2. Non-Controlling Interest share of subsidiary net income in 2014.