Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Incorporated, on January 1, 2024, in exchange for $9,470,000 in cash. At the acquisition date, Eddy Tech's stockholders' equity was $7,380,000 including retained earnings of $3,075,000. At the acquisition date, Angela prepared the following fair value allocation schedule for its newly acquired subsidiary: Consideration transferred Eddy's stockholder's equity Excess fair over book value $ 9,470,000 7,380,000 $ 2,090,000 to patented technology (5-year remaining life) to trade names (indefinite remaining life) $ 169,000 531,000 64,000 to equipment (8-year remaining life) Goodwill 764,000 $ 1,326,000 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. Accounts Sales Cost of goods sold Depreciation expense Amortization expense Other operating expenses Net income Angela $ (8,175,000) 4,114,500 426,000 Eddy Tech $ (2,435,000) 1,317,500 53,600 12,600 88,000 58,800 $ (3,277,500) $ (992,500) 269,000 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. Angela Corporation and Subsidiary Consolidated Income Statement For the year ended December 31, 2024 $ 0 0 $ 0