Question: Please show work for correct answer thanks so much! At the beginning of year x8, a parent acquired a 70 percent owned subsidiary's bands from

Please show work for correct answer thanks so much! At the

Please show work for correct answer thanks so much!

At the beginning of year x8, a parent acquired a 70 percent owned subsidiary's bands from unaffiliated parties at a gain from constructive retirement of $15,000. The parent's annual interest income on the bonds differs from the subsidiary's annual interest expense by $3,000. In the consolidating workpapers prepared for the year x9, the beginning balance of retained earnings will have to be increased by: O a. $8,400. O b. $15,000 O c. $12,600 O d. $10,500

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