Parker, Inc., acquires 70 percent of Sawyer Company for $420,000. The remaining 30 percent of Sawyers outstanding shares continue to trade at a collective value of $174,000. On the acquisition date, Sawyer has the following accounts: Book Value Fair Value Current assets $ 210,000 $ 210,000 Land 170,000 180,000 Buildings 300,000 330,000 Liabilities (280,000 ) (280,000 ) The buildings have a 10-year remaining life. In addition, Sawyer holds a patent worth $140,000 that has a five-year remaining life but is not recorded on its financial records. At the end of the year, the two companies report the following balances: Parker Sawyer Revenues $ (900,000 ) $ (600,000 ) Expenses 600,000 400,000 Assume that the acquisition took place on January 1. What figures would appear in a consolidated income statement for this year? Assume that the acquisition took place on April 1. Sawyers revenues and expenses occurred uniformly throughout the year. What amounts would appear in a consolidated income statement for this year?