On January 2, 20X common stock for $420,000 cash. At the acquisition date, the book values and fair values of Bluegrass' assets and liabilities were equal. The stockholders' equity accounts of the two companies at the acquisition date are as follows: 2, Kentucky Company acquired 70% of Bluegrass Corporation's KentuckyBluegrass tock ($10 par value) $%600,000 $350,000 Additional Paid-In Capital Retained Earnings Total Stockholders' Equity 450,000 50,000 250,000 200,000 $1,300,000 $600,000 Noncontrolling interest was assigned income of $15,000 in Kentucky's consolidated income statement for 20X2. Based on the preceding information, what amount did Bluegrass report as net income for the year ending 20X2? A) $45,000 B) $50,000 C) $75,000 D) $105,000