Beagle Co. owned 80% of Maroon Corp. Maroon owned 90% of Eckston Inc. Separate company net incomes for 2018 are shown below; these figures contained no investment income. Amortization expense was not required by any of these acquisitions. Included in Eckston's operating income was a $56,000 gross profit on intra-entity transfers to Maroon.

	Beagle Co.	Maroon Corp.	Eckston Inc.
Separate net income	$420,000	$280,000	$280,000

The accrual-based net income of Beagle Co. is calculated to be