Bale Co.acquired Silo Inc.on October 1,20X1,in a business combination transaction.Bale's net income for the year was $1,400,000,while Silo had net income of $400,000 earned evenly during the year.There was no goodwill and there were no other allocations.
Required:
What is consolidated net income for 20X1?

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The Answer of Bale Co.acquired Silo Inc.on October 1,20X1,in a business combination transaction.Bale's net income for the year was $1,400,000,while Silo had net income of $400,000 earned evenly during the year.There was no goodwill and there were no other allocations.
Required:
What is consolidated net income for 20X1?

Bale CoAcquired Silo Inc