Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Inc., on January 1, 2021, in exchange for $9,940,000 in cash. At the acquisition date, Eddy Tech's stockholders' equity was $7,520,000 including retained earnings of $3,220,000. At the acquisition date, Angela prepared the following fair value allocation schedule for its newly acquired subsidiary: $ 9,940,000 7,520,000 $ 2,420,000 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 $ 199,500 549,500 92,000 841,000 $ 1,579,000 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 $ (8,295, 000) 4,174,500 500,000 279,000 79,400 $ (3,262,100) Eddy Tech $ (2,425,000 1,312,500 64,800 20,200 56,400 $ (971,100) 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