S Co, an 80%-owned subsidiary of P Co, 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. $40,000

d. $33,600

On 1/1/2019,X Company purchased a 30% interest in Y Company for $253,000.Y reported net income of $100,000 for 2019 and declared and paid a dividend

of $10,000. X co using the equity method. In its 31/12 2019, balance sheet what amount should X report as its investment in Y?

Select one:

a. 250,000

b. 277,000

c. 340,000

d. 280,000