You were given the following information for the Unadjusted Income Statements for Parent Inc. and Sub Inc. for December $31,2021$ Parent Inc. Sub Inc. Sales Revenue $$1,000,000$ $$500,000$ Cost of Goods Sold $$600,000$ $$300,000$ Depreciation Expense $$40,000$ $$20,000$ Net Income Before Tax $$360,000$ $$180,000$ You were advised that Parent acquired Sub on January $1,2021.$ On that date, the acquisition differential was $$75,000.$

Question:

Assume Parent owns $100\%$ of Sub. Also further assume the percentage breakdown of acquisition differential on the acquisition date was as follows: $15\%$ was allocated to inventory for which on the date of acquisition the fair value was greater than book value the remaining $85\%$ was attributable to Goodwill

Required: Calculate the adjusted Consolidated Net income before Tax. You do NOT need to prepare a complete income statement, but be sure you show how you reached solution number.