Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Incorporated, on exchange for $9,720,000 in cash. At the acquisition date, Eddy Tech's stockholders' equity was $8,180,000 including of $3,050,000.

At the acquisition date, Angela prepared the following fair value allocation schedule for its newly acquired subsidiary:

At the end of 2024, Angela and Eddy Tech report the following amounts from their individually maintained account ba consideration of their parent-subsidiary relationship. Parentheses indicate a credit balance.

Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Incorporated, on January 1, 2024, in exchange for $9,720,000 in cash. At the acquisition date, Eddy Tech's stockholders' equity was $8,180,000 including retained earnings of $3,050,000. At the acquisition date, Angela prepared the following fair value allocation schedule for its newly acquired subsidiary: At the end of 2024, Angela and Eddy Tech report the following amounts from their individually maintained account balances, before consideration of their parent-subsidiary relationship. Parentheses indicate a credit balance. Required: Prepare a 2024 consolidated income statement for Angela and its subsidiary Eddy Tech. Assume that Angela, as a private company, elects to amortize goodwill over a 10 -year period