my choice is incorrecf Thomson Corporation owns 70 percent of...
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my choice is incorrecf
Thomson Corporation owns 70 percent of the outstanding stock of Stayer, Incorporated. On January 1, 2022, Thomson acquired a building with a 10-year life for $446,000. Thomson depreclated the buliding on the straight-fine basis assuming no salvage value. On January 1,2024 , Thomson sold this building to Stayer for $413,600. At that time, the building had a remaining life of eight years but still no expected salvage value. In preparing financial statements for 2024 , how does this transfer affect the computation of consolidated net income? Net income is reduced by $56,800. Net income is reduced by $63,900. Net income is reduced by $49,700. Net income is reduced by $53,560
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