Following are the individual financial statements for Gibson and Davis for the year ending December 31, 2021: Gibson Davis Sales $ (749,000 ) $ (421,000 ) Cost of goods sold 363,000 181,000 Operating expenses 240,000 82,000 Dividend income (24,000 ) 0 Net income $ (170,000 ) $ (158,000 ) Retained earnings, 1/1/21 $ (751,000 ) $ (404,000 ) Net income (170,000 ) (158,000 ) Dividends declared 60,000 40,000 Retained earnings, 12/31/21 $ (861,000 ) $ (522,000 ) Cash and receivables $ 287,300 $ 92,000 Inventory 562,000 183,000 Investment in Davis 569,700 0 Buildings (net) 526,000 688,000 Equipment (net) 403,000 454,000 Total assets $ 2,348,000 $ 1,417,000 Liabilities $ (857,000 ) $ (555,000 ) Common stock (630,000 ) (340,000 ) Retained earnings, 12/31/21 (861,000 ) (522,000 ) Total liabilities and stockholders' equity $ (2,348,000 ) $ (1,417,000 ) Gibson acquired 60 percent of Davis on April 1, 2021, for $569,700. On that date, equipment owned by Davis (with a five-year remaining life) was overvalued by $63,000. Also on that date, the fair value of the 40 percent noncontrolling interest was $379,800. Davis earned income evenly during the year but declared the $40,000 dividend on November 1, 2021. Prepare a consolidated income statement for the year ending December 31, 2021