Dane, inc., owns carlton corporation. for the current year, dane reports net income (without consideration of its investment in carlton) of $216,000 and the subsidiary reports $98,500. the parent had a bond payable outstanding on january 1, with a carrying amount of $230,000. the subsidiary acquired the bond on that date for $208,500. during the current year, dane reported interest expense of $23,760 while carlton reported interest income of $22,860, both related to the intra-entity bond payable. what is consolidated net income?

The consolidated net income is $ 336,900.

Explanation:

Dane’s income from own operations = $216,000

Carlton’s income = $98,500

Eliminate intra-entity interest income = $(22,860)

Eliminate intra-entity interest expense = $23,760

Recognize retirement gain on debt = $230,000 - $208,500

                                                           = $21,500

Consolidated net income = $216,000 + $98,500 - $22,860 + $23,760 + $21,500  =  $ 336,900

Therefore, The consolidated net income is $ 336,900.

answer: nobody

explanation:

answer; common market;