Plug Products owns 80 percent of the stock of Spark Filter Company, which it acquired at underlying book value on August 30, 20X6. At that date, the fair value of the noncontrolling interest was equal to 20 percent of the book value of Spark Filter. Summarized trial balance data for the two companies as of December 31, 20X8, are as follows: Spark Filter Company Debit Credit $ 97,000 126,000 182,000 Plug Products Debit Credit $ 165,000 227,000 287,000 245,190 167,000 5 50,000 $ 211,332 188,000 463,000 251, 268 27,590 $1,141,190 $1,141,190 Cash and Accounts Receivable Inventory Buildings & Equipment (net) Investment in Spark Filter Company Cost of Goods Sold Depreciation Expense Current Liabilities Common Stock Retained Earnings Sales Income from Spark Filter Company Total 132,000 40,000 $ 83,732 76,000 216,000 201,268 $577,000 $577,000 On January 1, 20X8, Plug's inventory contained filters purchased for $61,000 from Spark Filter, which had produced the filters for $41,000. In 20X8, Spark Filter spent $101,000 to produce additional filters, which it sold to Plug for $150,268. By December 31, 20X8, Plug had sold all filters that had been on hand January 1, 20X8, but continued to hold in inventory $45,080 of the 20X8 purchase from Spark Filter A Record the basic consolidation entry. B Record the entry to reverse last year's deferral. c Record the entry to defer the current year's unrealized profits on inventory transfers. b. Compute consolidated net income and income assigned to the controlling interest in the 20X8 consolidated income statement. Consolidated net income Income assigned to the controlling interest C. Compute the balance assigned to the noncontrolling interest in the consolidated balance sheet as of December 31, 20X8. Noncontrolling interest