When using the acquisition method to account for a business combination, the acquirer (parent) would correctly report all of the following on its financial statements, except for: Recognizing the noncontrolling interest share of the subsidiary's net income on the income statement. Eliminating any intercompany revenue and expense items between the parent and the subsidiary that would impact the income statement during the reporting period. Capitalizing the costs related to the acquisition of the subsidiary on the balance sheet. Reporting the parent's retained earnings (only) on the balance sheet