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 $100.000 $30,000 Tesla $50.000 $20,000 Gross Profit Miscellaneous Revenues/Losses Depreciation Expense Income Tax Expense Net Income $20,000 $20.000 $30.000 $15,000 S6.000 $9.000 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 amount of Miscellaneous Revenues/Losses appearing on Jay's 2020 Consolidated income Statement would be Multiple Cholce Multiple Choice $47,600. $50,000. $53.000. $47,000