I need detailed calculations with steps on how to solve, please show explanations for every calculation and where every number comes from :

Royce Co. acquired 60% of Park Co. for $420,000 on December 31, 2010 when Park's book value was $560,000. The Royce stock was not actively traded. On the date of acquisition, Park had equipment (with a ten-year life) that was undervalued in the financial records by $140,000. One year later, the following selected figures were reported by the two companies. Additionally, no dividends have been paid. Royce Co :

Book Values:

Current Assets : $868,000

Equipment : $364,000

Buildings : $574,000

Liabilities : (546,000)

Revenues : (1,260,000)

Expenses : 700,000

Investment Income : Not Given

Park Co :

Book Values :

Current Assets : $420,000

Equipment : $280,000

Buildings : $210,000

Liabilities : (168,000)

Revenues : (560,000)

Expenses : 420,000

Park Co : Fair values :

Current Assets : $448,000

Equipment : $400,000

Buildings : $210,000

Liabilties : (168,000)

Question :

What is consolidated net income for 2011 attributable to Royce's controlling interest? A. $686,000. B. $560,000. C. $644,000. D. $635,600. E. $691,600.

Again, please show detailed explanations as to why answer is D), be ready for follow up questions on your answer.