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18) Gason Ltd. owns 100% of the common shares of Inka Ltd. During the year, Gason reported net income of $118,000, including its income from

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18) Gason Ltd. owns 100% of the common shares of Inka Ltd. During the year, Gason reported net income of $118,000, including its income from its investment in Inka accounted for under the cost method. Inka reported net income of $20,000 and paid dividends of $8,000 during the year. What net income will be reported by Gason on its separateentity financial statements under the equity method and on its consolidated financial statements

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