Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Inc., on January 1, 2021, in exchange for $9,720,000 in cash. At the acquisition date, Eddy Techs 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:

Consideration transferred				$	9,720,000
Eddys stockholders equity					8,180,000
Excess fair over book value				$	1,540,000
to patented technology (5-year remaining life)	$	157,000
to trade names (indefinite remaining life)		524,000
to equipment (8-year remaining life)		72,000			753,000
Goodwill				$	787,000

At the end of 2021, Angela and Eddy Tech report the following amounts from their individually maintained account balances, before consideration of their parentsubsidiary relationship. Parentheses indicate a credit balance.

	Angela				Eddy Tech
Sales	$	(8,400,000	)		$	(2,590,000	)
Cost of goods sold		4,227,000				1,395,000
Depreciation expense		430,000				56,800
Amortization expense		259,000				23,000
Other operating expenses		85,400				70,800
Net income	$	(3,398,600	)		$	(1,044,400	)

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.