PLZ fast

Question 2 1 points Save Answer -Royce Co. acquired 60% of Park Co. for $420,000 on December 31, 2019 when Park's book value was $560,000. The Park stock was not actively traded. On that day of acquisition Part equipment with 10 year life was undervalued by $140,000. One year later Royce reported $1,260,000 revenues and $700,000 expenses while Park reported $560,000 revenues and $420,000 expenses. What is the consolidated income for 2020 attributable to Royce controlling interest? A $644,000. O B. $635,000 OC. $560,000. O D.$686,000. 1 points Save Answer -When consolidating a subsidiary that was acquired on a date other than the first day of the fiscal year, which of the following statements is true in the presentation of consolidated financial statements? A. Preacquisition earnings are deducted from the beginning consolidated stockholders' equity. B. Preacquisition earnings are added to consolidated revenues and expenses. O C. Preacquisition earnings are deducted from consolidated revenues and expenses. O D. Preacquisition earnings are ignored in the consolidated income statement -When a subsidiary is acquired sometime after the first day of the fiscal year, which of the following statements is true? O A. Excess cost over acquisition value is recognized at the beginning of the fiscal year. B. No goodwill can be recognized. O C. Income from subsidiary is recognized from the date of acquisition to year-end. D. Income from subsidiary is not recognized until there is an entire year of consolidated operations