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On January $1,2021,$ Pomona Company acquired $70\%$ of Sun Incorporated by paying $$650,000.$ This included a $$20,000$ control premium. Sun reported common stock on that date of $$420,000$ with retained earnings of $$252,000.$ An equipment was undervalued in the company's financial records by $$28,000.$ This equipment had a ten$-$year remaining life. In addltion, Sun held a patent worth $$80,000$ that had a $20-$year remaining life but was not recorded on its financial records.

Sun earned income and paid cash dividends as follows:

$\backslash$table$[[,$Net Income,Dividends Paid$],[2021,$$$105,000,$$$54,600$