On January 1, 2019, Ting Corp Retained Earnings Statements Balance Sheets

On January 1, 2019, Ting Corp. acquired 75% of Won Corp. for $1,500,000. Ting uses the cost method to account for its investment in Won. On January 1, 2019, Won's retained earnings and common shares were $600,000 and $220,000, respectively.
Won's book values did not differ materially from its fair values on the date of acquisition with the following exceptions:
? Inventory had a fair value that was $50,000 higher than its book value.
? A patent (which had not previously been accounted for) was identified on the acquisition date with an estimated fair value of $20,000. The patent had an estimated useful life of 5 years.
The Financial Statements of Ting Corp. and Won Corp. for the year ended December 31, 2020 are shown below:
Income Statements
$\begin{array}{|l|r|r|}\hline & \text { Ting Corp } & \text { Won Corp. } \\\hline \text { Sales } & \$ 1,000,000 & \$ 600,000 \\\hline \text { Other Revenues } & \$ 600,000 & \$ 240,000 \\\hline \text { Less: Expenses } & & \\\hline \text { Cost of Goods Sold } & \$ 800,000 & \$ 480,000 \\\hline \text { Depreciation Expense } & \$ 40,000 & \$ 20,000 \\\hline \text { Other Expenses } & \$ 160,000 & \$ 80,000 \\\hline \text { Income Tax Expense } & \$ 240,000 & \$ 104,000 \\\hline \text { Net Income } & \$ 360,000 & \$ 156,000 \\\hline\end{array}$ Retained Earnings Statements
$\begin{array}{|l|r|r|}\hline & \text { Ting Corp } & \text { Won Corp } \\\hline \text { Balance, January 1, 2020 } & \$ 400,000 & \$ 700,000 \\\hline \text { Net Income } & \$ 360,000 & \$ 156,000 \\\hline \text { Less: Dividends } & (\$ 60,000) & \$ 76,000) \\\hline \text { Retained Earnings } & \$ 700,000 & \$ 780,000 \\\hline\end{array}$ Balance Sheets:
$\begin{array}{|l|r|r|} \hline& \text { Ting Corp } & \text { Won Corp. } \\\hline \text { Cash } & \$ 339,250 & \$ 50,000 \\\hline \text { Accounts Receivable } & \$ 500,000 & \$ 500,000 \\\hline \text { Inventory } & \$ 100,000 & \$ 500,000 \\\hline \text { Investment in Won Corp. } & \$ 1,500,000 & \\\hline \begin{array}{l}\text { Investment in Won Corp. } \\\text { bonds }\end{array} & \$ 60,750 & \\\hline \text { Land } & & \$ 50,000 \\\hline \text { Equipment } & \$ 1,000,000 & \$ 450,000 \\\hline \text { Accumulated Depreciation } & (\$ 500,000) & (\$ 300,000) \\\hline \text { Total Assets } & \$ 3,000,000 & \$ 1,250,000 \\\hline \text { Current Liabilities } & \$ 1,300,000 & \$ 119,000 \\\hline \text { Bonds Payable } & & \$ 150,000 \\\hline \text { Less: Bond Discount } & & (\$ 19,000) \\\hline \text { Common Shares } & \$ 1,000,000 & \$ 220,000 \\\hline \text { Retained Earnings } & \$ 700,000 & \$ 780,000 \\\hline \text { Total Liabilities and Equity } & \$ 3,000,000 & \$ 1,250,000 \\\hline\end{array}$ Other Information:
? Won sold a tract of land to Ting at a profit of $20,000 during 2019. This land is still the property of Ting Corp.
? On January 1, 2020, Won sold equipment to Ting at a price that was $20,000 lower than its book value. The equipment had a remaining useful life of 5 years from that date.
? On January 1, 2020, Won's inventories contained items purchased from Ting for $120,000. This entire inventory was sold to outsiders during the year. Also during 2020, Won sold inventory to Ting for $30,000. Half this inventory is still in Ting's warehouse at year end. All sales are priced at a 20% mark-up above cost, regardless of whether the sales are internal or external.
? There was a goodwill impairment loss of $10,000 during 2019.
? Both companies are subject to an effective tax rate of 40%.
? Both companies use straight line amortization exclusively.
? On January 1, 2020, Ting acquired half of Won's bonds for $60,000.
? The bonds carry a coupon rate of 10% and mature on January 1, 2040. The initial bond issue took place on January 1, 2020. The total discount on the issue date of the bonds was $20,000.
? Gains and losses from intercompany bond holdings are to be allocated to the two companies when consolidated statements are prepared.
What would be the non-controlling interest amount appearing on Ting's Consolidated Statement of Financial Position on January 1, 2019?

A) $298,300
B) $375,000
C) $450,000
D) $500,000