January 1, 2019, Pierce Co. paid $1,600,000 for an 80% ownership in Serrano Co. Annual excess fair-value amortization of $50,000 results from the acquisition. On December 1, 20 2020, Pierce reports revenues of $1,300,000 and expenses of $800,000 and Serrano reports revenues of $700,000 and expenses of $400,000. Pierce Co's figures contain no income from Serrano Co. What is consolidated net income attributable to Pierce Corporation?