Question 7 Not yet answered Marked out of 1.00 P Flag question S Corporation, an 80%-owned subsidiary of P Corporation, sold inventory items to its parent at a $48,000 profit in 2014. P resold one- third of this inventory to outside entities. S reported net income of $200,000 for 2014. Noncontrolling interest share of consolidated net income that will appear in the income statement for 2014 is Select one: a. $30,400 b. $32,000 c. $33,600 d. $40,000