Wilco acquires 8,000 of the 10,000 shares of Seminole Corporation on January 1, 2022, for $900,000. Seminole reports $500,000 of net income in 2022 and paid $50,000 in dividends. What amount of Seminole's net income will Wilco report on their consolidated income statement at the end of 2022? Please provide your answer as a whole number