On Janusry $1,2023,$ Doone Corporation acquired $60$ percent of the outsuanding voting stock of Rockne Compony for $$300,000$

consideration, At the scquisition date, the fair value of the $40$ percent noncontrolling inserest was $$200,000,$ and Rockne's assets and

in Rockne. Rockne reports net income of $$160,000$ in $2024.$ Since being acquired, Rockne has regularly supplied inventory to Doone

at $25$ percent more than cost Soles to Doone omounted to $$250\mathrm{.}000$ in $2023$ and $$300,000$ in $2024.$ Approximately $30$ persent of the

inventory purchased during any one year is not used until the following year.

Required:

a$.$ What is the noncontroling interest's share of Rockne's $2024$ income?

b$.$ Prepore Doone's $2024$ consolidation envies required by the intrs$-$entry invemory transfers.

What is the noncontrolling interest's share of Rockne's $2024$ income?

Noncontrolling interest's share

$1$ Prepare entry ${?}^{**}G$

$2$ Prepare entry TI

$3$ Prepare entry G