If the parent company used the equity method to account for its investment and the subsidiary company showed a profit for the past year, the consolidation elimination entry required to remove a subsidiary's income from the parent's books prior to the preparation of consolidated financial statements would be:

Group of answer choices

DebitCreditEquity method incomeParent$$$Retained EarningsParent$$$

DebitCreditEquity method incomeParent$$$Investment in Subsidiary$$$

DebitCreditEquity method incomeParent$$$Acquisition Differential$$$

DebitCreditInvestment IncomeSubsidiary$$$Equity method incomeParent$$$