2 (4 points) Royce Co. acquired 70% of Park Co. for $532,000 on December 31, 2019 when Park's book value was $640,000. The Royce stock was not actively traded. On the date of acquisition, Park had equipment (with a five-year life) that was undervalued in the financial records by $120,000. One year later, the two companies provided the selected amounts shown below. Additionally, no dividends have been paid. Royce Co. Book Park Co. Book Fair Value Value Current assets $ 868,000 $ 420,000 Equipment 364,000 280,000 Value $ 448,000 400,000 Buildings Liabilities 574,000 210,000 210,000 Revenues Expenses (546,000) (1,260,000) (168,000) (168,000) (580,000) 730,000 Not Given 430,000 Investment income What amount of consolidated net income for 2020 is attributable to Royce's controlling interest