Carlson, Inc, owns 80 percent of Madrid, Inc. Carlson reports net income for 2011 (without consideration of its investment in Madrid, Inc.) of $1, 500,000. For the same year, Madrid reports net income of $705,000. Carlson had bonds payable outstanding on January 1, 2011 with a carrying value of $ 1, 200,000. Madrid acquired the bonds on the open market on January 3, 2011 for $1,090,000. For the year 2011. Carlson reported interest expense on the bonds in the amount of $96,000, while Madrid reported interest income of $94,000 for the same bonds. What is Carlson's share of consolidated net income