On July 1, 2022, Timothy Company acquired a 70 percent interest in Benjamin Company in exchange for consideration of $840,000 in cash and equity securities. The remaining 30 percent of Benjamins shares traded closely near an average price that totaled $360,000 both before and after Timothys acquisition. In reviewing its acquisition, Timothy assigned a $120,000 fair value to a patent recently developed by Benjamin, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years.

Benjamin had book value of net assets at $880,000 on January 1, 2022. The affiliates report the following 2022 amounts from their own separate operations:

	Timothy	Benjamin
Revenues	$800,000	$480,000
Expenses	$450,000	$200,000
Dividends	$160,000	$40,000

Assume the subsidiarys income was earned uniformly throughout the year. The subsidiary declared dividends quarterly.

Answer the following questions:

What amount is reported for goodwill in the December 31, 2022 consolidated balance sheet?

What is consolidated net income attributable to controlling interests for year 2022?