Question 8 Question 8 of 14 > >> 6 points Timothy, Inc., owns 80% of Silver Co.'s outstanding common stock. Timothy's liabilities total $500,000, and Silver's liabilities total $120,000. Included in Silver's financial statements is a $80,000 note payable to Timothy. What amount of total liabilities should be reported in the consolidated financial statements? O $536,000. $540,000. $596,000. $500,000. Save