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On 1/1/2020, P acquired 90% of S. The implied value is 340000 JD and book value of equity is 250000 JD. The following table shows

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On 1/1/2020, P acquired 90% of S. The implied value is 340000 JD and book value of equity is 250000 JD. The following table shows differences between FV and BV: Difference between FV & BV Inventory 30000 Equipment (remaining life 50000 5 years) Company P net income is 122000 JD which includes 5000 JD dividends income from Company S. Company S net income is 60000 JD. Compute consolidated income

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