Required information Plus Corporation acquired 80 percent of Subtract Corporation's common stock on March 31, 20X4 for $360,000. At that date, the fair value of the noncontrolling interest was $90,000. On January 1, 20X4, Subtract reported the following stockholders' equity balances: Common Stock ($10 par value) Additional Paid-In Capital Retained Earnings Total Stockholders' Equity $150,000 75,000 200,000 $425,000 Subtract reported net income of $100,000 in 20X4, earned uniformly throughout the year, and declared and paid dividends of $40,000 on December 31, 20X4. Plus reported retained earnings of $500,000 on January 1, 20X4, and had 20X4 income of $200,000 from its separate operations. Plus paid dividends of $50,000 on December 31, 20X4. Peacoat accounts for its investment in Subtract Corporation using the equity method. WATCH THE DATES sed on the information provided, what is the consolidated net income reported for the year 20X4? Multiple Choice $280,000 $275,000 $260,000 $200,000