Alfonso Inc. acquired $100$ percent of the voting shares of BelAire Company on January $1,2020.$ In exchange, Alfonso paid $$198,000$ in cash and issued $100,000$ shares of its own $$1$ par value common stock. On this date, Alfonso's stock had a fair value of $$15$ per share. The combination is a statutory merger with BelAire subsequently dissolved as a legal corporation. BelAire's assets and liabilities are assigned to a new reporting unit.

The following shows fair values for the BelAire reporting unit for January $1,2020$ along with respective carrying amounts on December $31,2021.$

$\backslash$table$[[$BelAire Reporting Unit,Fair Values $\frac{1}{1}\frac{?}{20},$Carrying Amounts $\frac{12}{31}\frac{?}{21}$

Alfonso Inc. acquired $100$ percent of the voting shares of BelAire Company on January $1,2020.$ In exchange, Alfonso paid $$198,000$ in cash and issued $100,000$ shares of its own $$1$ par value common stock. On this date, Alfonso's stock had a fair value of $$15$ per share. The combination is a statutory merger with BelAire subsequently dissolved as a legal corporation. BelAire's assets and liabilities are assigned to a new reporting unit.

The following shows fair values for the BelAire reporting unit for January $1,2020$ along with respective carrying amounts on December $31,2021.$

$\backslash$table$[[$BelAire Reporting Unit,Fair Values $1/1/20,$Carrying Amounts $\frac{12}{31}\frac{?}{21}$