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  3. c owned all of g. for 2017, c reported net income

C owned all of G. For 2017, C reported net income (without consideration of its...

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Accounting

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C owned all of G. For 2017, C reported net income (without consideration of its investment in G) of $280,000. While the subsidiary reported $112,000. The subsidiary had bonds payable outstanding on January 1, 2017, with a book value $297,000. The parent acquired the bonds on that date for $281,000. During 2017, C reported interest income of $31,000 while G reported interest expense od $29,000. Compute the consolidated income for 2017

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