Angela Corporation (a private company) acquired all of the outstanding voting stock of Eddy Tech, Inc., on January 1, 2021, in exchange for $9,290,000 in cash. At the acquisition date, Eddy Tech's stockholders' equity was $7,450,000 including retained earnings of $3,480,000. At the acquisition date, Angela prepared the following fair value allocation schedule for its newly acquired subsidiary: $ 9, 290,000 7,450,000 $ 1,840,000 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 $ 194,500 514,000 60,000 768,500 $ 1,071,500 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 $ (7,852,500) 3,953, 250 450,000 306,000 83,800 $ (3,059,450) Eddy Tech $ (2,545,000) 1, 372,500 52,000 13,200 64,800 $ (1,042,500) 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