Keefe, Inc.,incorporation, acquires 70% of George Company on September 1, 2005, and an additional 10% on April 1, 2006.annual amortization of $5,000 relates to the first acquisition and $3000 to the second. George reports the following figures for 2006:

Revenues $500,000

Expenses 400,000

Retained earnings, 1/1/11 300,000

Dividends paid 50,000

Common stock 200,000

Without regard for this investment, Keefe independently earns $300,000 in net income during 2006. what is consolidated net income for 2006? detail computation please