[The following information applies to the questions displayed below.] Palace Corporation owns 80 percent of the common shares and 70 percent of the preferred shares of Surf Company, all purchased at underlying book value on January 1, 20X2. At that date, the fair value of the noncontrolling interest in Surf's common stock was equal to 20 percent of the book value of its common stock. The balance sheets of Palace and Surf immediately after the acquisition contained these balances:

	Palace Corporation					Surf Company
Assets
Cash & Receivables		$	150,000				$	80,000
Inventory			200,000					100,000
Buildings & Equipment (net)			250,000					220,000
Investment in Surf Preferred Stock			70,000
Investment in Surf Common Stock			200,000
Total Assets		$	870,000				$	400,000
Liabilities & Equities
Liabilities		$	220,000				$	50,000
Preferred Stock								100,000
Common Stock			300,000					200,000
Retained Earnings			350,000					50,000
Total Liabilities & Equities		$	870,000				$	400,000

The preferred stock issued by Surf pays a 10 percent dividend and is cumulative. For 20X2, Surf reports net income of $30,000 and pays no dividends. Palace reports income from its separate operations of $100,000 and pays dividends of $40,000 during 20X2.

Required: 1. Total noncontrolling interest reported in the consolidated balance sheet as of January 1, 20X2, is

2. Income assigned to the noncontrolling interest in the 20X2 consolidated income statement is

3. What amount of income is attributable to the controlling interest for 20X2?

4. Total stockholders' equity reported in the consolidated balance sheet as of January 1, 20X2, is

5. Preferred stock outstanding reported in the consolidated balance sheet as of January 1, 20X2, is