Clarke Company Owns All of the Stock of Patterson Corporation

Multiple Choice

Clarke Company owns all of the stock of Patterson Corporation and 90% of the stock of Tyra Corporation. Clarke Company earned net income of $750,000; Patterson earned $230,000; and Tyra earned $420,000. Clarke Company's consolidated income statement would report net income of:

A) $750,000.
B) $980,000.
C) $1,358,000.
D) $1,400,000.