During the Fiscal Year Ended March 31, 2006, Sol Company

During the fiscal year ended March 31, 2006, Sol Company, the 90%-owned subsidiary of Pal Corporation, sold merchandise for the first time to Pal at a billed price of $160,000, representing a 25% markup on Sol's cost. On March 31, 2006, $40,000 of the merchandise remained unsold. There were no other intercompany transactions during the year ended March 31, 2006, and Sol had a net income of $80,000 for that year. In the working paper elimination (in journal entry format) of Pal Corporation and subsidiary for the year ended March 31, 2006, Minority Interest in Net Income of Subsidiary is debited for:

A) $0
B) $7,000
C) $7,200
D) $8,000
E) Some other amount