Jay Inc. owns 80% of Tesla Inc. and uses the cost method to account for its investment. The 2020 income statements of both companies are shown below. Jay S100.000 $30,000 Tesla $50.000 $20,000 Gross Profit Miscellaneous Revenues/Losses Depreciation Expense Income Tax Expense Net Income $20.000 520000.0 $15,000 $6.000 $.9.000 $30.000 On January 1, 2020, Tesla sold equipment to Jay at a profit of $3,000. The equipment had a remaining useful life of twenty years on that date. Both companies are subject to an effective tax rate of 40% The controlling interest (attributable to the shareholders of Jay) in Jay's 2020 Consolidated Net Income would be Multiple Choice Multiple Choice $35,832 $30,000 0 $37,200. $37.200. $36.000