The following balances were taken from the records of S Company:

Common stock (1/1/11 and 12/31/11) $724,200

Retained earnings 1/1/11 $161,000

Net income for 2011 181,000

Dividends declared in 2011 (41,000)

Retained earnings, 12/31/11 301,000

Total stockholders' equity on 12/31/11 $1,025,200

P Company purchased 75% of S Company's common stock on January 1, 2011 for $901,500 for cash. The difference between implied value and book value is attributable to fixed assets with a remaining useful life on January 1, 2011 of ten years.

Compute the difference between cost/(implied) and book value applying

1. Parent company theory: 237600
2. Economic unit theory: 316800

Assuming the economic unit theory: 1. Compute noncontrolling interest in consolidated income for 2023. 2. Compute noncontrolling interest in net assets on December 31,2023. 1. Noncontrolling interest in consolidated income $ 2. Noncontrolling interest in net assets $