Condition #$1$:

O'Brien Inc. acquired $15\%$ of the $220,000$ shares of common stock of Fletcher Air at a total cost of $$13$ per share on February $17,2025.$ On July $31,$ Fletcher Air declared and

paid $$72,400$ cash dividends to all stockholders. On December $31,$ Fletcher Air reported net income of $$146,900$ for the year. At December $31,$ the market price of Fletcher

Air was $$12$ per share.