Norek Corp

Multiple Choice

Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2010, Thelma sold a parcel of land to Norek. The land had a book value of $32,000 and was sold to Norek for $45,000. Thelma's reported net income for 2010 was $119,000. What is the non-controlling interest's share of Thelma's net income?

A) $35,700.
B) $31,800.
C) $39,600.
D) $22,200.
E) $26,100.