Micron Corporation Owns 75 Percent of the Common Shares and 60

Micron Corporation owns 75 percent of the common shares and 60 percent of the preferred shares of Stanley Company,all acquired at underlying book value on January 1,2008.At that date,the fair value of the noncontrolling interest in Stanley's common stock was equal to 25 percent of the book value of its common stock.The balance sheets of Micron and Stanley immediately after the acquisition contained these balances:
Stanley's preferred stock pays a 12 percent dividend and is cumulative.For 2008,Stanley reports net income of $40,000 and pays no dividends.Micron reports income from its separate operations of $75,000 and pays dividends of $30,000 during 2008.

-Based on the preceding information,what amount of income is attributable to the controlling interest in the consolidated income statement for 2008?

A) $75,000
B) $105,000
C) $96,000
D) $103,200