On January $1,2018,$ Otisius acquired a $70$ percent interest in the common stock of Boof & Mortimer for $$175,000.$ B&M$\text{'}$s net assets on that date was $$145,556.$ The subsidiary's building $($with a $20-$year remaining life$)$ was undervalued within the company's accounting records by $$20,000.$ Any remaining excess acquisition$-$date fair value was assigned to goodwill. Since acquisition, Otisius has applied the equity method to its Investment and no goodwill impairment has occurred. At year end, there are no intra$-$entity payables or receivables.

B&M$\text{'}$s net income in $2018,2019$ and $2020$ was $$10,000$ each year, no dividends were paid prior to $2021.$