Royce Co. acquired 60% of Park Co. for $420,000 on December 31, 2019 when Park's book value was $560,000. The Royce stock was not actively traded. On the date of acquisition, Park had equipment (with a ten-year life) that was undervalued in the financial records by $140,000. One year later, the two companies provided the selected amounts shown below. Additionally, no dividends have been paid.

Royce Co. Park Co. Book Value Book Value Fair Value Current assets $ 868,000 $ 420,000 $ 448,000 Equipment 364,000 280,000 400,000 Buildings 574,000 210,000 210,000 Liabilities (546,000 ) (168,000 ) (168,000 ) Revenues (1,260,000 ) (560,000 ) Expenses 700,000 420,000 Investment income Not Given

What is the noncontrolling interest's share of the subsidiary's net income for the year ended December 31, 2020 and what is the ending balance of the noncontrolling interest in the subsidiary at December 31, 2020?

Multiple Choice

• $56,000 and $280,000.
• $50,400 and $218,400.
• $56,000 and $224,000.
• $56,000 and $336,000.
• $50,400 and $330,400.