On January 1, 2017, Perla Corporation purchased all of the outstanding common stock of Siena Company for $220,000 cash. On that date, Siena's net assets had a book value of $148,000. Equipment with an 8-year life was undervalued by $20,000 in Siena's financial records. Siena has a database that is valued at $52,000 and will be amortized over ten years. Siena reported net income of $25,000 in the year of acquisition and $32,500 in the following year. Dividends of $2,500 were declared and paid for 2017 and 2018. For each of the two companies, selected account balances as of December 31, 2019 are as follows: Revenues Expenses Equipment (net) Reta ined Earnings, beginning of the year Dividends Paid Perla Siena $ 250,000 $ 142,500 175,000 100,000 125,000 60.000 150,000 Qoo 25,000 5,000 What is the consolidated net income for 2019