1. Determine consolidated net income

Please show where and how you got the numbers (not just a chart of numbers)! PLEASE do NOT copy other CHEGG answers since they are WRONG and sometimes completely irrelevant to my question.

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Parent Corporation acquired 80 percent of the outstanding voting stock of Sub, Inc., on January 1 , 2021 , when Sub had a net book value of $500,000. Any excess fair value was assigned to patents and amortized at a rate of $10,000 per year for eight years. 2022 net income and dividends for the parent before consideration of its relationship with Sub (and before adjustments for intra-entity sales) and for the sub are below: Inventory balances from the two companies' 12/31/2022 balance sheets were as follows: Intra-Entity Sales: - 2021: Intra-entity sales of $125,000 with an original cost of $47,500 were made. 50% of this inventory was held by the consolidated company as of 12/31/2021. - 2022: Intra-entity sales of $100,000 with an original cost of $35,000 were made. 25% of this inventory was held by the consolidated company as of 12/31/2022