Goderich Corporation had net income of $50,000 in Y8 and $60,000 in Y9, excluding...

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Accounting

Goderich Corporation had net income of $50,000 in Y8 and $60,000 in Y9,
excluding any income from its investment in Bayfield Company. Bayfield had
net income of $30,000 in Y8 and $40,000 in Y9.
On January 1, Y9, Goderich acquired all of the outstanding common shares
of Bayfield for a cash payment of $300,000. Assume that there was no
acquisition dieferential on this business combination.
What net income would Goderich report for Y9 in its comparative
consolidated financial statements at the end of Y 9?
$100,000
$110,000
$130,000
$60,000
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