On December 31, 2020, Waterway Company purchased a controlling interest in Oriole Company for $1,220,000. The...

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On December 31, 2020, Waterway Company purchased a controlling interest in Oriole Company for $1,220,000. The consolidated balance sheet on December 31, 2020 reported noncontrolling interest in Oriole Company of $305,000. On the date of acquisition, the stockholders' equity section of Oriole Company's balance sheet was as follows: Common stock $560,000 Other contributed capital 410,000 Retained earnings 360,000 Total $1,330,000 (a) Compute the noncontrolling interest percentage on December 31, 2020. Noncontrolling interest % On December 31, 2020, Waterway Company purchased a controlling interest in Oriole Company for $1,220,000. The consolidated balance sheet on December 31, 2020 reported noncontrolling interest in Oriole Company of $305,000. On the date of acquisition, the stockholders' equity section of Oriole Company's balance sheet was as follows: Common stock $560,000 Other contributed capital 410,000 Retained earnings 360,000 Total $1,330,000 (a) Compute the noncontrolling interest percentage on December 31, 2020. Noncontrolling interest %

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