Required Information [The following information applies to the questions displayed below.] On January 1, 2020, French Company acquired 60 percent of K-Tech Company for $300,000 when K-Tech's book value was $400,000. The falr value of the newly comprised 40 percent noncontrolling interest was assessed at $200,000. At the acquisition date, K-Tech's trademark (10-year remaining life) was undervalued in its financlal records by $60,000. Also, patented technology (5-year remaining Iffe) was undervalued by $40,000. In 2020, K-Tech reports $30,000 net Income and declares no dividends. At the end of 2021, the two companles report the following figures (stockholders' equity accounts have been omitted): Note: Parentheses Indicate a credit balance. What is the 2021 consolidated net Income before allocation to the controlling and noncontrolling interests? Multiple Choice $400,000 $491,600 $486,000 $500,000