Jaynes Inc. acquired all of Aaron Co.'s common stock on January 1, 2010, by issuing 11,000 shares of $1 par value common stock. Jaynes' shares had a $17 per share fair value. On that date, Aaron reported a net book value of $120,000. However, its equipment (with a five-year remaining life) was undervalued by $6,000 in the company's accounting records. Any excess of consideration transferred over fair value of assets and liabilities is assigned to an unrecorded patent to be amortized over ten years. The following figures came from the individual accounting records of these two companies as of December 31, 2010 Revenues Expenses Investment income Dividends paid Jaynes Inc 720,000 Aaron Co $276,000 $28,000 144,000 Not given 100,000 60,000 The following figures came from the individual accounting records of these two companies as of December 31, 2011) Jaynes Inc Aaron Co Revenues 840,000 S 336,000 Expenses 552,000 180,000 Investment income Not given Dividends paid 110,000 50,000 Equipment 600,000 360,000 Retained earnings, 12/31/11 balance 960,000 216,000 (1) What was consolidated equipment as of December 31, 2011? (2) What was consolidated net income for the year ended December 31, 2011? (3) What was the total for consolidated patents as of December 31, 2011