On January 1,20X4,Plimsol Company acquired 100 percent of Shipping Corporation's voting shares,at underlying book value.Plimsol accounts for its investment in Shipping at cost.Shipping's retained earnings was $75,000 on the date of acquisition.On December 31,20X4,the trial balance data for the two companies are as follows:
-Based on the information provided,what amount of net income will be reported in the consolidated financial statements prepared on December 31,20X4?
Definitions:
Organisational Context
The internal and external environment in which an organization operates, including its culture, structure, and external market conditions.
Work Attitudes
Employees' feelings, beliefs, and thoughts about their jobs, colleagues, and organizations, which can affect their work behavior and performance.
Personal Growth
The process of improving oneself through activities that enhance self-awareness, develop talents, and potential, contribute to the realization of dreams and aspirations.
Organisational Size
The scale of a company or institution, measured by the number of employees, revenue, or other relevant metrics.
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