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On 1/1/2019, P Co acquired 100% of the stock of S co. On this date,P...

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Accounting

On 1/1/2019, P Co acquired 100% of the stock of S co. On this date,P had Retained Earnings of $50,000 and S had Retained Earnings of $25,000. On December 31, 2019, P had Retained Earnings of $60,000 and S had Retained Earnings of $30,000. The amount of Retained Earnings that appeared in the 31/12/2019 consolidated balance sheet was

Select one:
a. 90,000
b. 60,000
c. 85,000
d. 65,000

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