Prime, Inc., owns 100% of Steak Corporation. For the current year, Prime reports net income from own operations (without consideration of its investment in Steak and Steak's income) of $217,000 and Steak reports $93,250. Prime had a bond payable outstanding on January 1, with a carrying amount of $267,700. Steak acquired the bond on that date for $246,000. During the current year, Prime reported interest expense of $15,190 while Steak reported interest income of $12,190, both related to the intra-entity bond payable. What is consolidated net income

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.