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(Credit) Debit as in worksheets Parent Subsidiaryl Mathematical Total (500,000) (300,000) (800,000) Sales Interest revenue (20,000 (31,000) (51,000) Interest expense 42,000 35,000 77,000 Other expenses
(Credit) Debit as in worksheets Parent Subsidiaryl Mathematical Total (500,000) (300,000) (800,000) Sales Interest revenue (20,000 (31,000) (51,000) Interest expense 42,000 35,000 77,000 Other expenses 272,000 147,000 419,000 Equity in income of subsidiary Separate net income** (206,000) (149,000) (355,000) "Not included here. **The 206,000 is separate net income BEFORE including this amount. Parent owns 90% of Subsidiary. The only date of acquisition valuation adjustment was for goodwill. During the current year, Parent paid subsidiary $18,000 of interest that was accrued for the current year. Based only on this information and the results for the current year that are summarized in the table, answer the following questions. 1. What will be reported as consolidated interest revenue? Enter as a positive number. 2. What will be reported as consolidated net income? Enter as a positive number. Enter only your numeric final answer without any punctuation
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