Aspen Company acquired 80 percent of Birch Company's outstanding voting stock for $438,000. Birch reported a $457.500 book value and the fair value of the interest was $109, 500 on that date. Also, on January 1.2013, Birch acquired 80 percent of Cedar Company for $200,000 when Cedar had a $205,000 book value and the 20 percent interest was valued at $50,000. In each acquisition, the subsidiary's excess acquisition-date fair over book value was assigned to a trade name with a 30-year life. These companies report the following financial information. Investment income figures are not included. Assume that each of the following questions is independent: a. If all companies use the equity method for internal reporting purposes, what is the December 31, 2013. balance in Aspen's Investment in Birch Company account? b. What is the consolidated net income for this business combination for 2014