Mighty Company purchased a $60$ percent interest in Lowly Company on January $1,2023,$ for $$580,800$ in cash. Lowly's book value at that date was reported as $$835,000,$ and the fair value of the noncontrolling interest was assessed at $$387,200.$ Any excess acquisition$-$date fair value over Lowly's book value is assigned to trademarks to be amortized over $20$ years. Subsequently, on January $1,2024,$ Lowly acquired a $20$ percent interest in Mighty. The price of $$350,000$ was equivalent to $20$ percent of Mighty's book and fair value.

Neither company has paid dividends since these acquisitions occurred. On January $1,2024,$ Lowly's book value was $$1,117,000,$ a figure that rises to $$1,165,000($common stock of $$300,000$ and retained earnings of $$865,000)$ by year$-$end. Mighty's book value was $$1\mathrm{.}75$ million at the beginning of $2024$ and $$1\mathrm{.}85$ million $($common stock of $$1$ million and retained earnings of $$850,000)$ at December $31,2024.$ No intra$-$entity transactions have occurred, and no additional stock has been sold. Each company applies the initial value method in accounting for the individual investments.

Required:

Prepare worksheet entries which are required to consolidate these two companies for $2024.$

What is the net income attributable to the noncontrolling interest for this year?