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Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory...

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Accounting

Angela, Inc., holds a 90 percent interest in Corby Company. During 2017, Corby sold inventory costing $108,800 to Angela for $128,000. Of this inventory, $55,400 worth was not sold to outsiders until 2018. During 2018, Corby sold inventory costing $161,250 to Angela for $215,000. A total of $53,400 of this inventory was not sold to outsiders until 2019. In 2018, Angela reported separate net income of $216,000 while Corby's net income was $125,000 after excess amortizations. What is the noncontrolling interest in the 2018 income of the subsidiary?

1.$12,500.

2.$12,300.

3.$11,996.

4.$12,530.

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