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Thomson Corporation owns 70 percent of the outstanding stock of Stayet incorporated on January 1, 2019, Thomson acquired a building with a 10 year life

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Thomson Corporation owns 70 percent of the outstanding stock of Stayet incorporated on January 1, 2019, Thomson acquired a building with a 10 year life for $320,000. Thomson deprecated the building on the straight line basis assuming no svage value on January 1, 2021. Thomson sold this building to Stayer for $315,200. At that time, the building had a remaining life of eight years but still no expected salvage value in preparing financial statements for 2021, how does this transfer affect the computation of consolidated net income? Multiple choke Not income is reduced by S51500 Nalincome reduced by $58720 Netcomes duced by 360.000 Nur income is reduty 559,200

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