Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Inc., on January 1, 2021, in exchange for $9,820,000 in cash. At the acquisition date, Eddy Tech's stockholders' equity was $7,970,000 including retained earnings of $3,470,000. 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 to patented technology (5-year remaining life) to trade names (indefinite remaining life) to equipment (8-year remaining life) Goodwill $ 181,500 522,500 100,000 $ 9,820,000 7,970,000 $ 1,850,000 804,000 $ 1,046,000 At the end of 2021, 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. Sales Cost of goods sold Depreciation expense Amortization expense Other operating expenses Net income Angela Eddy Tech $ (8,280,000) $ (2,770,000) 4,167,000 1,485,000 540,000 252,000 68,000 20,600 76,000 53,700 $ (3,245,000) $ (1,142,700) Required: Prepare a 2021 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 Company and Subsidiary Consolidated Income Statement For the year ended December 31, 2021