X Corporation owns 80 percent of Y Corporation's common stock and 40 percent of Z Corporation's common stock. Additionally, Y Corporation owns 35 percent of Z Corporation's common stock. The acquisitions were made at book values. The following information is available for 20X8: XYZOperating Income$100,000 $50,000 $25,000 Dividends declared 30,000 20,000 10,000 Based on the information provided, what amount of consolidated net income will X Corporation report for 20X8?
A. $158,750
B. $148,750
C. $175,000
D. $150,000
Answer: C
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