Problem $5-15($Algo$)($LO $5-2,5-3,5-4,5-5)$ On January $1,2023,$ Doone Corporation acquired $60$ percent of the outstanding voting stock of Rockne Company for $\backslash (\backslash$$ $384,000\backslash )$ consideration. At the acquisition date, the fair value of the $40$ percent noncontrolling interest was $\backslash (\backslash$$ $256,000\backslash ),$ and Rockne's assets and liabilities had a collective net fair value of $\backslash (\backslash$$ $640,000\backslash ).$ Doone uses the equity method in its internal records to account for its investment in Rockne. Rockne reports net income of $\backslash (\backslash$$ $210,000\backslash )$ in $2024.$ Since being acquired, Rockne has regularly supplied inventory to Doone at $25$ percent more than cost. Sales to Doone amounted to $\backslash (\backslash$$ $270,000\backslash )$ in $2023$ and $\backslash (\backslash$$ $370,000\backslash )$ in $2024.$ Approximately $35$ percent of the inventory purchased during any one year is not used until the following year. Required: a$.$ What is the noncontrolling interest's share of Rockne's $2024$ income? b$.$ Prepare Doone's $2024$ consolidation entries required by the intra$-$entity inventory transfers. Complete this question by entering your answers in the tabs below. Required B What is the noncontrolling interest's share of Rockne's $2024$ income? Noncontrolling interest's share Prepare Doone's $2024$ consolidation entries required by the intra$-$entity inventory transfers.

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Consolidation Worksheet Entries

Prepare entry $*$G

Note: Enter debits before credits. Consolidation

Worksheet Entries

$1$

$2$

Prepare entry TI

Note: Enter debits before credits. Consolidation

Worksheet Entries

$\backslash [$

$1$

$\backslash ]$

$2$

Prepare entry G

Note: Enter debits before credits.