Matthew, Incorporated, owns $30$ percent of the outstanding stock of Lindman Company and has the ability to significantly influence the investee's operations and decision making. On January $1,2024,$ the balance in the Investment in Lindman account is $$385,000.$ Amortization associated with this acquisition is $$17,500$ per year. In $2024,$ Lindman earns an income of $$115,500$ and declares cash dividends of $$38,500.$ Previously, in $2023,$ Lindman had sold inventory costing $$32,800$ to Matthew for $$41,000.$ Matthew consumed all but $30$ percent of this merchandise during $2023$ and used the rest during $2024.$ Lindman sold additional inventory costing $$45,600$ to Matthew for $$60,000$ in $2024.$ Matthew did not consume $40$ percent of these $2024$ purchases from Lindman until $2025.$

Required:

a$.$ What amount of equity method income would Matthew recognize in $2024$ from its ownership interest in Lindman?

b$.$ What is the equity method balance in the Investment in Lindman account at the end of $2024?$

$\backslash$table$[[$a$.$ Equity income$],[$b$.$ Balance of investment in Lindman account$]]$