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 $ 6,000 $ 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 deferred taxes appearing on Jay's 2020 Consolidated Statement of Financial Position would be: Multiple Choice nil $1,000 $1,140 O O O $2,550. 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 $15.000 $ 6,000 $19.000 $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 $30.000 $35.832. o o o o $36.000 $37,200 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. Jayl $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 $ 6,000 $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 income tax expense appearing on Jay's 2020 Consolidated Income Statement would be: Multiple Choice O $24,860 $25,040 $26,000 $34,880. O