On Jan $,12024,$ Clearwater Incorporated purchased $6,000$ shares of the outstanding common stock of Mountain Corporation at a cost of $$140,000.$ Mountain had $30,000$ shares of outstanding common stock. The total book value and total fair value of Mountains' individual net asets on Jan $1,2024,$ are $$600,000$ and $$650,000,$ respectively. Assume that fair market value increments $($i$.$e$.,$ the difference between the fair and book value of Brothers' assets$)$ are depreciated using straight$-$line over $5$ years$).$ The total fair value of the $30,000$ shares of Mountain's common stock on December $31,2024,$ is $$760,000.$ Both companies have a January through December fiscal year. The following data pertains to Mountain Corporation during $2024$:

Dividends declared and paid, January $1-$ December $31$: $$12,000$

Net income, Jan $1-$ Dec $31$: $$18,000$

$1.$ Clearwater will have significant influence over the financial and operating policies of Mountain. compute the goodwill $($if any$)$ on the acquisition.

$2.$ Prepare the necessary entries of Clearwater for $2024$ under the equity method.

$3.$ Prepare any necessary entries of Clearwater for $2024$ that would be required if the securities were accounted for under the fair value through net income method.

please answer all three questions.