Sheridan Company acquired an 80% interest in the common stock of Pharoah Company for $1,541,700 on July 1, 2022. Pharoah Company's stockholders' equity on that date consisted of:

Common stock $804,100
Other contributed capital 404,900
Retained earnings 334,600

Compute the total noncontrolling interest to be reported in the consolidated balance sheet assuming the:

(1) parent company concept.
(2) economic unit concept.