On January 1, Jarel acquired 80 percent of the outstanding voting stock of Suarez for $260,000 cash consideration. The remaining 20 percent of Suarez had an acquisition-date fair value of $65.000. On January 1 Suarez possessed equipment ve-year remaining life) that was undervalued on its books by $25,000. Suarez also had developed several secret formulas that Jarel assessed at $50,000. These formulas, although not recorded on Suarez's financial records, were estimated to have a 20-year future life. As of December 31, the financial statements appeared as follows: Jarel Suare: Revenues $ (300.000) $200,000) Cost of goods sold 140.000 80.000 Expenses 20.000 10.000 Net income $(140,000) $(110,000) Retained earnings, 1/1 $ 300,000 $150,000) Net income (140.000) (110.000 Dividends declared Retained earnings, 12/31 $ (440,000) $(260,000) Cash and receivables $ 210.000 $ 90.000 Inventory 150.000 110,000 Investment in Suarez 260,000 Equipment (net) 440.000 300,000 Total assets $ 1,060,000 $ 500,000 Liabilities $420,000) $1140.000 Common stock (200,000) (100,000) Retained earnings, 12/31 (440.000) (260,000) Total liabilities and equities $(1,068,000) $500,000) Included in the preceding statements, Jarel sold inventory costing $80,000 to Suarez for $100.000. Or these goods, Suarez still owns 60 percent on December 31 What is the consolidated total for equipment (net) at December 317