100. On April 1, 2020, Republic Company sold equipment to its wholly owned subsidiary, Barre Corporation, for $40,000. At the time of the transfer, the asset had an original cost (to Republic) of $60,000 and accumulated depreciation of $25,000. The equipment has a five year estimated remaining life. Barre reported net income of $250,000, $270,000 and $310,000 in 2020, 2021, and 2022, respectively. Republic received dividends from Barre of $90,000, $105,000 and $120,000 for 2020, 2021, and 2022, respectively. Assume that Republic uses the equity method to account for its investment in Barre. What is the balance in the pre-consolidation Income (loss) from Subsidiary account for 2021?

Select one:

A. $270,000

B. $266,000

C. $166,000

D. $271,000

41. Chesney Company is a wholly-owned subsidiary company which reports sales of $750,000 and net income of $250,000 for the calendar year in which it is acquired on May 1st. What amount of sales and net income are includable in consolidated income statement in the year of acquisition assuming that sales and net income are earned evenly over the year?

Select one:

A. Sales $500,000; Net income $166,667

B. Sales $250,000; Net income $83,333

C. Sales $750,000; Net income $250,000

D. Answer cannot be determined based on the given information.