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K Inc. owned all of B Corp. For 2021, K Inc. reported net income (without consideration of its investment in B Corp) of $350,000 while
K Inc. owned all of B Corp. For 2021, K Inc. reported net income (without consideration of its investment in B Corp) of $350,000 while the subsidiary reported $127,000. There are no excess amortizations associated with this consolidation. The subsidiary had bonds payable outstanding on January 1, 2021, with a book value of $303,000. The parent acquired the bonds on that date for $285,000. During 2021. K Inc. reported interest income of $32,000 while B Corp, reported interest expense of $29,000. What is consolidated net income for 2021? Multiple Choice $477.000 $498,000 $477000 $498.000. $462.000. 492,000. $456.000
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