You were given the following information for the Unadjusted IncomeAssume Parent owns $100\%$ of Sub. You were also provided with the following information. Also further assume the percentage breakdown of acquisition differential on the acquisition date was as follows:

Goodwill was valued at $$80,000.$ At the end of $2021,$ goodwill was judged to be impaired by $20\%$

On the date of acquisition, the fair value of Sub$$s inventory was $$20,000$ greater than book value. Only $70\%$ of this inventory was sold at the end of $2021.$ The remaining $30\%$ remained unsold.

On December $30,2021,$ Sub declared a $$50,000$ dividend.

Required:

Calculate the adjusted Consolidated Net income before Tax. You do NOT need to prepare a complete income statement, but be sure you show how you reached solution number. Statements for Parent Inc. and Sub Inc. for December

$31,2021$