(Answered) Question - norek corp owned 70 of the voting common stock

Accounting

Question - Norek Corp. owned 70% of the voting common stock of Thelma Co. On January 2, 2009, 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 2009 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

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