muliple choice

a- $286,900

b- $321,900

c- $311,900

c- $231,000

Required information The following information applies to the questions displayed below) On January 1, 2019. Phoenix Co. acquired 100 percent of the outstanding voting shares of Sedona Inc. for $694,000 cash. At January 1, 2019, Sedona's net assets had a total carrying amount of $485,800. Equipment (eight-year remaining life was undervalued on Sedona's financial records by $102,000. Any remaining excess fair over book value was attributed to a customer list developed by Sedona (four-year remaining life), but not recorded on its books. Phoenix applies the equity method to account for its investment in Sedona. Each year since the acquisition, Sedona has declared a $25.000 dividend. Sedona recorded net income of $84,500 in 2019 and $99.100 in 2020. Selected account balances from the two companies Individual records were as follows: Phoenix 2021 Revenues $636,000 $372,200 405.000 277,000 55,900 Retained earnings 12/31/21 337,700 Sedon 2021 Expenses 2021 Income from Sedona What is consolidated net income for Phoenix and Sedona for 2021