Problem b-TT (LU 6-3) Dane, Inc., owns Carlton Corporation. For the current year, Dane reports net income (without consideration of its investment in Carlton) of $255,000 and the subsidiary reports $102,750. The parent had a bond payable outstanding on January 1, with a carrying amount of $237,000. The subsidiary acquired the bond on that date for $219,500. During the current year, Dane reported interest expense of $17,850 while Carlton reported interest income of $16,950, both related to the intra-entity bond payable. What is consolidated net income? Multiple Choice $374,350. $341,150. o oo $376,150. $339,350. Comparative consolidated balance sheet data for Iverson, Inc., and its 80 percent-owned subsidiary Oakley Co. follow: Cash Accounts receivable (net) Merchandise inventory Buildings and equipment (net) Trademark 2018 $ 13,050 47,400 82,250 91,200 108,000 $ 341,900 2017 $ 11,650 26,000 35,250 105,500 132,000 $310,400 $ 83,000 Totals Accounts payable Notes payable, long-term Noncontrolling interest Common stock, $10 par Retained earnings (deficit) Totals 48,500 200,000 10,400 $341,900 $ 66,000 27,200 41,000 200,000 (23,800) $310,400 Additional Information for Fiscal Year 2018 Iverson and Oakley's consolidated net income was $53,500. Oakley paid $4,000 in dividends during the year. Iverson paid $11,000 in dividends. Oakley sold $13,000 worth of merchandise to Iverson during the year. There were no purchases or sales of long-term assets during the year. In the 2018 consolidated statement of cash flows for Iverson Company: Net cash flows from operating activities were Multiple Choice $40,400. O $13,100. O $34,000. O $17,000