Assume on January 1, 2020, an investor company purchased 100% of the outstanding voting common stock of the investee. On the date of the acquisition, the investees identifiable net assets had fair values that approximated their historical book values, except for tangible fixed assets, which had fair value that was $144,000 higher than the investees recorded book value. The tangible fixed assets had a remaining useful life of 6 years. In addition, the acquisition resulted in goodwill in the amount of $280,000 recognized in the consolidated financial statements of the investor company. On January 1, 2020, the investees retained earnings balance was $320,000 and on the acquisition date, the subsidiary reported retained earnings of $441,600 . Assuming that the investor company uses the cost method to account for its investment in the investee, what is the amount of the [ADJ] entry necessary to prepare the consolidated financial statements for the year ended December 31, 2022?