Assume a parent company acquired 80% of the outstanding voting common stock of a subsidiary on January 1, 2018. On the acquisition date, the identifiable net assets of the subsidiary had fair values that approximated their recorded book values except for a patent, which had a fair value of $200,000 and no recorded book value. On the date of acquisition, the patent had five years of remaining useful life and the parent company amortizes its intangible assets using straight line amortization. During the year ended December 31, 2019, the subsidiary recorded sales to the parent in the amount of 5240,000. On these sales, the subsidiary recorded pre-consolidation gross profits equal to 25. Approximately 30% of this merchandise remains in the parent's inventory at December 31, 2019. The following summarized pre-consolidation financial statements are for the parent and the subsidiary for the year ended December 31, 2019 Investerinwestee Income statement: 54.800,000 SA 000 200.600 3.200.000 40.000 510.00 320.000 Support Income from Investee Expenses Netcome Retained earnings statement: BOY retained wings Nice Dividends declared $1.488.000 $80,000 109,00 320,000 112 000 000 51.600.000 5200.000 51606500 SEO 55.26.000 110.000 1600000 160,000 1160.000 30.000 cheveut $10.06.OO 1800.000 Totales Based on this information determine the balance for Consolidated Revenues: 35.840.000 54,800,000 35 360,000 $5.600.000