On January $1,2024,$ Peter Corporation paid $\backslash$$$1,160,000$ to acquire Samuel Company. Samuel maintalned separate incorporation. Peter used the equity method to account for the investment. The following information Is avallable for Samuel's assets, llabilitles, and stockholders' equity accounts on January $1,2024$:

Thompson earned net income for $2024$ of $\backslash (\backslash$$ $134,000\backslash )$ and pald dividends of $\backslash (\backslash$$ $51,000\backslash )$ during the year.

If Peter Corporation had net income of $\backslash (\backslash$$ $468,000\backslash )$ in $2024,$ exclusive of the Investment, what is the amount of consolldated net income?

Multiple Choice

$\backslash$$$468,000$

$\backslash$$$691,000$

$\backslash$$$602,900$

$\backslash$$$519,000$