Yukon Electrical Company Owns All of the Stock of Simmons

Multiple Choice

Yukon Electrical Company owns all of the stock of Simmons Corporation and 80% of the stock of I-Tek Corporation. In 2015, Yukon earned net income of $450,000, Simmons earned $120,000, and I-Tek earned $180,000. Yukon's consolidated income statement would report consolidated net income of:

A) $450,000
B) $570,000
C) $750,000
D) $714,000