Highlight, Inc., owns all outstanding stock of Kiort Corporation. The two companies report the following balances for the year ending December 31, 2017 Highlight Kiort Revenues and interest income Operating and interest expense Other gains and losses Net income s (670,000) (390,000) 221,000 32,000 540,000 120,000 s (250, 000) (201,000) Note: Parentheses indicate a credit balance On January 1, 2017, Highlight acquired on the open market bonds for $108,000 originally issued by Kiort. This investment had an effective rate of 8 percent. The bonds had a face value of $100,000 and a cash interest rate of 9 percent. At the date of acquisition these bonds were shown as liabilities by Kiort with a book value of $84,000 (based on an effective rate of 11 percent). Determine the balances that should appear on a consolidated income statement for 2017 Revenues and interest income Operating and interest expense Oth er gains and losses Net income