Diamond Company owns 80 percent of Emerald and Emerald owns 90 percent of Sapphire, Inc. Separate operating income totals for the current year follow; they contain no investment income. None of these acquisitions required amortization expense. Included in Sapphire's income is a $34,000 intra-entity gain on transfers to Emerald still in Emerald's possession. Separate operating income Diamond Emerald Sapphire $381,000 $210,000 $214,000 What is Diamond's accrual-based net income for the year? Multiple Choice $707,400. $691,400. $678,600. $699,800