On January 1, 2016, Payne Corp

Multiple Choice

On January 1, 2016, Payne Corp.purchased 70% of Shayne Corp.'s $10 par common stock for $900,000.On this date, the carrying amount of Shayne's net assets was $1,000,000.The fair values of Shayne's identifiable assets and liabilities were the same as their carrying amounts except for plant assets (net) , which were $200,000 in excess of the carrying amount.For the year ended December 31, 2016, Shayne had net income of $150,000 and paid cash dividends totaling $90,000.Excess attributable to plant assets is amortized over 10 years. ​
In the December 31, 2016, consolidated balance sheet, non-controlling interest should be reported at ____.

A) ​$282,714
B) ​$300,500
C) ​$397,714
D) ​$345,500