Cashen Co. paid $2,400,000 to acquire all of the common stock of Janex Corp. on January 1, 2012. Janex's reported earnings for 2012 totaled $432,000, and it paid $120,000 in dividends during the year. The amortization of allocations related to the investment was $24,000. Cashen's net income, not including the investment, was $3,180,000, and it paid dividends of $900,000.
Question : What is the amount of consolidated net income for the year 2012? A. $3,180,000. B. $3,612,000. C. $3,300,000. D. $3,588,000. E. $3,420,000.
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