This answer is wrong. Could you please show how to get the correct one for part b?

Computing the noncontrolling interests equity balance Assume the following facts relating to an 80% owned subsidiary company: BOY stockholders' equity $1,100,000 BOY AAP assets 100,000 Net income of subsidiary (not including [A] asset depreciation and amortization) 240,000 AAP assets depreciation and amortization expense 40,000 Dividends declared and paid to noncontrolling shareholders 5,000 a. Compute the net income attributable to noncontrolling interests for the year. $ 40,000 b. Compute the amount reported as noncontrolling equity at the end of the year. $ 279,000 X