On January 1, 20X1, Fanny Company acquired 100 percent of Jackson Company for $900,000 when Jackson's book value was $700,000. At the acquisition date, Jackson's trademark ( 20 -year remaining life) was undervalued in its financial records by $60,000. Also, patented technology (5-year remaining life) was undervalued by $120,000. In 201, Fanny reports revenues of $850,000 and expenses of $380,000 from its separate operations. Jackson reports revenues of $500,000 and expenses of $224,000. What is the amount of 201 consolidated net income? $746,000. $719,000. $724,000. $735,000