Parent, a domestic corporation, owns 100% of Block, a non-U.S. corporation, and Chip, a domestic corporation. Parent

Question:

Parent, a domestic corporation, owns 100% of Block, a non-U.S. corporation, and Chip, a domestic corporation. Parent also owns 45% of Trial, a domestic corporation. Parent receives no distributions from any of these corporations. Which of these entities’ net income is included in Parent’s income statement for current-year financial reporting purposes?

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