Presented below is the balance sheet of Hellman Company at January 1,2015:

\begin{array}{ll}\text { Cash } & \$ 100 \\\text { Net Fixed Assets } & {400} \\\text { Total Assets } &{\$ 500}\end{array}

\begin{array}{ll}\text { Accounts Payable } & \$ 20 \\\text { Long-term Bonds Payable } & 220 \\\text { Stockholders' Equity } & \underline{260} \\\text { Total Liabilities and Stockholders' Equity } & \$ 500\end{array}

The balance sheet of Swenson Company at January 1,2015 is below:

\begin{array}{ll}\text { Cash } & \$ 400 \\\text { Net Fixed Assets } & {380} \\\text { Total Assets } & {\$ 780}\end{array}

\begin{array}{ll}\text { Accounts Payable } & \$ 120 \\\text { Long-term Bonds Payable } & 280 \\\text { Stockholders' Equity } & 380 \\\text { Total Liabilities and Stockholders' Equity } & \$ 780\end{array}

On January 1,2015,Swenson Company acquired 100 percent of the outstanding common stock of Hellman Company for $260 cash.The book value and fair value of Hellman's assets and liabilities were equal.The net income for the year ending December 31,2015 was $30 for Hellman Company.The net income for the year ending December 31,2015 was $40 for Swenson Company.There were no intercompany sales.What is the net income on the consolidated income statement for the year ended December 31,2015?
A) $0
B) $30
C) $40
D) $70

In an Efficient Capital Market,the Appropriate Investment Strategy Is Risk

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