The income-sharing provision of the contract that established Early & Farber LLP provided that Early was to receive a bonus of one tenth of income before deduction of the bonus, with the remaining income distributed 40% to Early and 60% to Farber. If income before the bonus of Early & Farber LLP was $300,000 for the fiscal year ended August 31,2020, the Early bonus is:

Select one:

a.

$27,000.

b.

$30,000.

c.

$27,333.

d.

$33,333.

Pino Corporation owned a 90% interest in a subsidiary, Sino Company, which was accounted for by the equity method, During 2020, Pino share in Sino net income $243,000. Sino declared and paid a $80,000 dividend during Year 2020. There were no differences between the current fair values and carrying amounts of Sinos identifiable net assets on the date of the business combination, and there was no goodwill in the business combination. the consolidated net income of Pino Corporation and Sino for 2020 $ 743,000. Pino income, exclusive of intercompany investment income, for 2020 is:

a.

$ 743,000.

b.

$ 500,000.

c.

$ 533,000.

d.

$ 560,000.