Dil Corporation acquired 30 percent of the voting stock of Lar Company at book value on July 1, 2011. During 2013, Lar paid dividends of $80,000 and reported income of $250,000 as follows:
Income before extraordinary item ................................................... $150,000
Extraordinary gain (tax credit from operating loss carryforward) ................ 100,000
Net income .............................................................................. $250,000
REQUIRED
Show how Dil's income from Lar should be reported for 2013 by means of a partial income statement for Dil Corporation.