Question 14 Not yet answered Marked out of 1.00 P Flag question Only the balance sheet is consolidated on the date of a business combination of a parent company and subsidiary Select one: : True False Question 17 Not yet answered Marked out of 1.50 Flag question On January 1, 2013, K Company purchased a 30 % interest in P Company for $250,000. P reported net income of $100,000 for 2013 and declared and paid a dividend $10,000. K accounts for investment using the equity method. In December 31, 2013,balance sheet, what amount should K report as its investment in P? Select one: a. 277,000 b. 160,000 c. 223,000 d. 340,000