Question Number 3 Jackie Inc. acquired all of the outstanding common stock of Donna Company on January 1, 2014. Annual amortization of $22,000...

Question Number 3 Jackie Inc. acquired all of the outstanding common stock of Donna Company on January 1, 2014. Annual amortization of $22,000 resulted from this transaction. On the date of the acquisition, Jackie reported retained earnings of $520,000 while Donna reported a $240,000 balance for retained earnings. Jackie reported net income of $100,000 in 2014 and $68,000 in 2015, and paid dividends of $25,000 in dividends each year. Donna reported net income of $24,000 in 2015 and $36,000 in 2015, and paid dividends of $10,000 in dividends each year. Assume that Jackie's reported net income includes Equity in Subsidiary Income. If the parent's net income reflected use of the equity method, what were the consolidated retained earnings on December 31, 2015?