Highlight, Incorporated, owns all outstanding stock of Kiort Corporation. The two companies report the following balances for the year ending December $31,2023$:

Accounts Highlight Kiort

Revenues and interest income $ $(670,000)$ $ $(390,000)$

Operating and interest expense $540,000221,000$

Other gains and losses $(120,000)(32,000)$

Net income $ $(250,000)$ $ $(201,000)$

Note: Parentheses indicate a credit balance.

On January $1,2023,$ 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 carrying amount of $$84,000($based on an effective rate of $11$ percent$).$

Required:

Determine the balances that should appear on a consolidated income statement for $2023.$