Assume an investor acquired 100% of the voting common stock of an investee on January 1, 2015 in a transaction that qualifies as a business combination. As a result of the acquisition, the investor recognized no goodwill and no bargain purchase gain in the post-acquisition consolidated financial statements (i.e., all of the resulting Acquisition Accounting Premium relates to identifiable net assets). The investor uses the equity method to account for its pre-consolidation investment in the investee. In addition, there are no intercompany transactions between the investor and investee. The following summarized pre-consolidation financial statement information is for the year ending December 31, 2022: Income Statement Investor Investee Revenues $3,013,200 $414,720 Income from investee 191,160 - Expenses (2,430,000) (210,600) Net income $774,360 $204,120 Retained Earnings Statement Investor Investee Retained earnings, January 1 $972,000 $48,600 Net Income 774,360 204,120 Dividends declared (81,000) (48,600) Retained earnings, December 31 $1,665,360 $204,120 Balance Sheet Investor Investee Investment in investee $382,320 $- All other assets 6,207,840 518,400 Total assets $6,590,160 $518,400 Liabilities $3,888,000 $200,880 Common stock & APIC 1,036,800 113,400 Retained earnings 1,665,360 204,120 Total liabilities and equity $6,590,160 $518,400 What amount of net income will be reported in the consolidated income statement for the year ending December 31, 2022? Select one: a. $191,160 b. $774,360 c. $204,120 d. $761,400