On January 1, 2017, Leahy Corp. paid $600,000 to acquire Fischer Co. Leahy used the equity method to account for the investment. The following information is available for the assets, liabilities, and stockholders' equity accounts of Fischer:

	Book Value	Fair Value
Current Assets	$ 95,000	$ 95,000
Land	$ 87,500.00	$118,500.00
Building (25-year life)	$ 265,000.00	$290,000.00
Equipment (10-year life)	$ 207,500.00	$186,500.00
Current liabilities	$ 20,000.00	$ 20,000.00
Long-term liabilities	$ 70,000.00	$ 70,000.00
Common Stock	$ 136,500.00
Additional Paid-in Capital	$ 250,000.00
Retained Earnings	$ 178,500.00

Fischer earned net income for 2017 of $90,250 and paid dividends of $40,000 during the year.

1. What is the AAP amortization for 2017?

2. For 2017, what is the balance in Equity Income on Leahys books?

3. What is the balance in Equity Investment at the end of 2017?

4. The 2017 consolidation entry to reverse Leahys recognition of Fischer's income would include a credit to Equity Investment for how much?

5. If Leahy had income from its own operations of $408,500 in 2017, what would be consolidated net income?