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Parent acquired shares of Subsidiary as indicated below. Date of acquisition March 31, 20X1 Shares acquired 77,400 Fair value per share $ 9.40 Remaining useful life of equipment 10 Subsidiary's revenue, expense, and dividend amounts were earned/paid evenly over 20X1. Excess Subsidiary Company March 31, 20x1 Cash Other assets Equipment Accumulated depreciation Goodwill Total Book Value Fair Value $ 71,200 $ 71,200S 523,000 523,000 800,000 618,000 (272,000) 84,850 $ 1,122,200 $ 1,297,050 $ 90,000 84,850 174,850 $ 174,850 Accounts payable Other liabilities Common stock ($1 par value) Additional paid-in capital Retained earnings Total 67,650 $ 67,650 $ 421,000 421,000 86,000 808,400 345,000 202,550 1,122,200 $ 1,297,050 S 174,850 Shown below are Parent and Subsidiary separate company financial statements Parent Subsidiary 20X1 20X1 Sales $ 590,000 $ 248,000 Dividend income Expenses 419,000 126,000 Depreciation expense 88,000 52,800 Net income $ 69,200 98,000 $ 189,000 69,200 (15,000) 243,200 (20,000 $ Beginning retained earnings Net income Dividends declared Ending retained earnings Determine the following balances for 20X1 Parent's dividend income Consolidated depreciation expense Minority interest income Consolidated income