Assume an investor acquired 100% of the voting common stock of an investee on January 1, 2012 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, 2019: Investor Investee Revenues $2,232,000 $307,200 Income from Investee 141,600 Expenses (1,800,000) (156,000) Consolidated net income 573,600 151,200 Income Statement 0 NCI $573,600 $151,200 $720,000 $36,000 573,600 151,200 (60,000) (36,000) $1,233,600 $151,200 Net income Statement of Retained Earnings Retained earnings, January 1 Net income Dividends declared Retained earnings, December 31 Balance Sheet Investment in Investee All other assets Total assets Liabilities Common stock and additional paid in capital Retained earnings Total liabilities and equity $283,200 $0 4,598,400 384,000 $4,881,600 $384,000 $2,880,000 $148,800 768,000 84,000 1,233,600 151,200 $4,881,600 $384,000 Understanding consolidated balances What amount of "retained earnings" will appear in the consolidated balance sheet at December 31, 2019? O$1,348,800 O$1,384,800 O$1,233,600 O$1,243,200