Florida Co. acquired 70% of Georgia Co. for $525,000 on December 31, 2019 when Georgia's book value was $580,000. The Georgia stock was not actively traded. On the date of acquisition, Georgia had equipment (with a ten-year life) that was undervalued in the financial records by $170,000. One year later, the two companies provided the selected amounts shown below. Additionally, no dividends have been paid. What amount of consolidated net income for 2020 is attributable to Florida's controlling interest?

Scott Co. Gregg Co. Book Book Fair Value Value Value Current assets $912,000 $430,000 $458,000 Equipment 371,000 290,000 450,000 Buildings 84,000 210,000 210,000 Liabilities (564,000) (238,000) (238,000) Revenues (1,320,000) (570,000) Expenses 740,000 410,000 Investment income Not Given