Scott Company acquired 70% of Gregg Company for $525,000 on December 31,2022 when Gregg's book...

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Accounting

Scott Company acquired 70% of Gregg Company for $525,000 on December 31,2022 when Gregg's book value was $580,000. The Gregg
stock was not actively traded. On the date of acquisition, Gregg had equipment (with a ten-year life) that was undervalued in the financial
records by $170,000. One year later, the two companies provided the selected amounts shown below. Additionally, no dividends have been
paid.
What amount of consolidated net income for 2023 is attributable to Scott's controlling interest?
$723,000
$668,200
$680,100
$580,000
$692,000
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