On January 1, 2017, Doone Corporation acquired 80 percent of the outstanding voting stock of Rockne Company for $496,000 consideration. At the acquisition date, the fair value of the 20 percent noncontrolling interest was $124,000 and Rockne's assets and liabilities had a collective net fair value of $620,000. Doone uses the equity method in its internal records to account for its investment in Rockne. Rockne reports net income of $200,000 in 2018. Since being acquired, Rockne has regularly supplied inventory to Doone at 25 percent more than cost. Sales to Doone amounted to $260,000 in 2017 and $360,000 in 2018. Approximately 30 percent of the inventory purchased during any one year is not used until the following year. What is the noncontrolling interest's share of Rockne's 2018 income

Sri lanka is one of the major tea producing nations in the world. a substantial portion of the country's annual tea production gets exported to various countries, including the united arab emirates, russia, and other countries in the middle east. given the success in these countries, sri lanka decided to foray into the asian market. research evidence indicated that people in myanmar are major consumers of tea and that there is a high demand for tea in that country. this convinced industry experts in sri lanka that exporting to myanmar was a good idea. even though sri lankan tea was priced competitively, sales in myanmar turned out to be far lower than expected. which of the following, if true, could explain this outcome? a. myanmar exported a substantial amount of its annual tea production that year. b. the tea exported from sri lanka is of the highest quality. c. the myanmar government hiked the minimum wage for labor. d. people in myanmar are willing to pay more for their domestic tea brands than for foreign brands. e. sri lankan tea exports to other asian countries like india and china have also not been very successful.