Choose the correct.Diamond Company owns 80 percent of Emerald and Emerald owns 90 percent of Sapphire, Inc. Separate operating income totals for the current year follow; they contain no investment income. None of these acquisitions required amortization expense. Included in Sapphire’s income is a $50,000 intra-entity gain on transfers to Emerald still in Emerald’s possession.   Diamond Emerald Sapphire Separate operating income $348000 $228000 $21000 What is Diamond’s accrual-based net income for the year?a. $658,400b. $674,400c. $666,800d. $645,600

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