Paice Corporation owns 80% of the voting common stock of Accardi Corporation and 60% of the voting common stock of Badger Corporation. Accardi owns 20% of the voting common stock of Badger. There are no cost-book differentials to consider. The separate incomes of these affiliated companies for 2005 are: Paice $300,000 Accardi 160,000 Badger 120,000

Required: Calculate consolidated net income for Paice Corporation and Subsidiaries for 2005.