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Howard, Inc. paid $400,000 to acquire all of the common stock of Fisherman Corp. on January 1, 2020. Fishermans reported earnings for 2020 totaled $99,000,
Howard, Inc. paid $400,000 to acquire all of the common stock of Fisherman Corp. on January 1, 2020. Fishermans reported earnings for 2020 totaled $99,000, and it paid $33,000 in dividends during the year. The amortization of allocations related to undervalued assets was $9,000. Howards net income, not including the investment, was $753,000, and it paid dividends of $48,000. What is the consolidated net income for 2020?
A. $810,000
B. $852,000
C. $876,000
D. $843,000
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