. On January 1, 2020, Wong Corp. paid $2,550,000 to acquire Hayes Co. Hayes maintained separate incorporation. Wong used the equity method to account for the investment. The following information is available for Hayes's assets, liabilities, and stockholders' equity accounts on January 1, 2020:

	Book Value	Fair Value
Current assets	300,000	300,000
Land	180,000	480,000
Building (20-year life)	600,000	670,000
Equipment (10-year life)	1,350,000	1,290,000
Current liabilities	60,000	60,000
Long-term liabilities	300,000	300,000
Common stock	570,000
APIC	960,000
Retained earnings	540,000

Hayes earned net income for 2020 of $315,000 and paid dividends of $120,000 during the year. If Wong Corporation had net income of $1,110,000 in 2020, inclusive of the investment income from Hayes accounted for on a full equity basis, what is the amount of consolidated net income?