On January 1, 2014, Harrison, Inc., acquired 90 percent of Starr Company in exchange for $1,125,000 fair-value consideration. The total fair value of Starr Company was assessed at $1,200,000. Harrison computed annual excess fair-value amortization of $8,000 based on the difference between Starr’s total fair value and its underlying net asset fair value. The subsidiary reported earnings of $70,000 in 2014 and $90,000 in 2015 with dividend declarations of $30,000 each year. Apart from its investment in Starr, Harrison had net income of $220,000 in 2014 and $260,000 in 2015.
a. What is the consolidated net income in each of these two years?
b. What is the ending noncontrolling interest balance as of December 31, 2015?