Plattco purchased 70% of Siris, Inc. for $1,200,000. Book values equaled fair values except Property Plant and Equipment had a fair value $100,000 greater than book value, and unreported technology of $10,000. Property, Plant \& Equipment has an estimated life of 10 years, and the unrecorded technology a life of 5 years. The calculation of goodwill at acquisition is: For the year, Siris had income of $100,000. Goodwill was not impaired. Siris sells product to Plattco at a markup of 20% on cost, and Plattco sells product to Siris at 25% markup on sales. Inventories were as follows: Required: 1. Prepare the Equity in Net Income schedule. 2. Now assume Propertv Plant and Eqipment had a fair value $50.000 less than book