On January 1, 2016, Monica Company acquired 80 percent of Young Companys outstanding common stock for $856,000. The fair value of the noncontrolling interest at the acquisition date was $214,000.

Young reported stockholders equity accounts on that date as follows:

Common stock$10 par value	$	200,000
Additional paid-in capital		100,000
Retained earnings		590,000

In establishing the acquisition value, Monica appraised Young's assets and ascertained that the accounting records undervalued a building (with a five-year remaining life) by $50,000. Any remaining excess acquisition-date fair value was allocated to a franchise agreement to be amortized over 10 years.

During the subsequent years, Young sold Monica inventory at a 40 percent gross profit rate. Monica consistently resold this merchandise in the year of acquisition or in the period immediately following. Transfers for the three years after this business combination was created amounted to the following:

Year	Transfer Price			Inventory Remaining at Year-End (at transfer price)
2016	$	60,000		$	28,000
2017		80,000			30,000
2018		90,000			36,000

In addition, Monica sold Young several pieces of fully depreciated equipment on January 1, 2017, for $54,000. The equipment had originally cost Monica $86,000. Young plans to depreciate these assets over a six-year period.

In 2018, Young earns a net income of $160,000 and declares and pays $45,000 in cash dividends. These figures increase the subsidiary's Retained Earnings to a $920,000 balance at the end of 2018. During this same year, Monica reported dividend income of $36,000 and an investment account containing the initial value balance of $856,000. No changes in Young's common stock accounts have occurred since Monica's acquisition.

Prepare the 2018 consolidation worksheet entries for Monica and Young.

Compute the net income attributable to the noncontrolling interest for 2018.