On January 1, 2023, Harrison, Incorporated, acquired 90 percent of Starr Company in exchange for $1,126,000 fair-value consideration. The total fair value of Starr Company was assessed at $1,200,500. Harrison computed annual excess fair-value amortization of $8,100 based on the difference between Starrs total fair value and its underlying book value. The subsidiary reported net income of $71,500 in 2023 and $90,500 in 2024 with dividend declarations of $31,000 each year. Apart from its investment in Starr, Harrison had net income of $225,000 in 2023 and $264,000 in 2024.
Acquired percentage	90%
Fair value	$1,126,000
Total fair value	$1,200,500
Acquisition-date excess fair value amortization	$8,100
Starr Net income in 2023	$71,500
Starr Net income in 2024	$90,500
Dividend declaration	$31,000
Harrison Net income in 2023	$225,000
Harrison Net income in 2024	$264,000
Required:
Note: Use the cells A2 to B12 from the above information to complete this question. Formulas for any items to be subtracted must return negative values.
Prepare a schedule that calculates consolidated net income in 2023 and 2024.
Items	2023	2024
Harrison net income
Starr net income
Acquisition-date excess fair value amortization
Consolidated net income