Porter, Inc. acquired 30 percent of Soho Co.s (South) voting stock for $200,000 on January 1, 20X1. Porters 30 percent interest in Soho gave Porter the ability to exercise significant influence over Sohos operating and financial policies. On that date, Soho reported assets of $500,000 and liabilities of $100,000. Soho had equipment with a book value of $60,000 that was actually worth $160,000. The equipment had a remaining useful life of five years. During 20X1, Soho reported net income of