Tooker CoAcquired 80% of the Outstanding Common Shares of Vu Ltd

Multiple Choice

Tooker Co.acquired 80% of the outstanding common shares of Vu Ltd.There were no fair value increments or goodwill that arose with the purchase.During 20X1,Tooker sold $7,000 of inventory to Vu for a gross profit of 40%.At the end of 20X1,$3,000 of the inventory is still in Vu's inventory.On their single-entity income statements for 20X1,Tooker and Vu reported net income of $4,200 and $3,100 respectively.What is the non-controlling interest's share of consolidated net income at the end of 20X1?

A) $620
B) $840
C) $1,220
D) $1,460