A Corporation Had Net Income of $50,000 in 2018 and $60,000

Multiple Choice

A Corporation had net income of $50,000 in 2018 and $60,000 in 2019, excluding any income from its investment in B Company. B Company had net income of $30,000 in 2018 and $40,000 in 2019. On January 1, 2019, A Corporation acquired all of the outstanding common shares of B Company for a cash payment of $300,000. Assume that there was no acquisition differential on this business combination. What net income would A Corporation report for 2019 in its comparative consolidated financial statements at the end of 2019?

A) $40,000
B) $60,000
C) $80,000
D) $100,000