Business, 25.02.2020 22:58 Browardlovesangel

Jans Inc. acquired all of the outstanding common stock of Tysk Corp. on January 1, 2009, for $372,000. Equipment with a ten-year life was undervalued on Tysk's financial records by $46,000. Tysk also owned an unrecorded customer list with an assessed fair value of $67,000 and an estimated remaining life of five years.
Tysk earned reported net income of $180,000 in 2009 and $216,000 in 2010. Dividends of $70,000 were paid in each of these two years. Selected account balances as of December 31, 2011, for the two companies follow.
Jans Tysk
Revenues 1,080,000 840,000
Expens 480,000 600,000
Invst. Income Not Given 0
RE 1/1/11 840,000 600,000
Dividends paid 132,000 70,000
If the partial equity method had been applied, what was 2011 consolidated net income?
A. $840,000.
B. $768,400.
C. $822,000.
D. $240,000.
E. $600,000.

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Jans Inc. acquired all of the outstanding common stock of Tysk Corp. on January 1, 2009, for $372,00...

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