On January $1,2019,$ Cayce Corporation acquired $100$ percent of Simbel Company for consideration transferred with a fair value of $$136,800.$ Cayce is a U$.$S$.-$based company headquartered in Buffalo, New York, and Simbel is in Cairo, Egypt. Cayce accounts for its investment in Simbel under the initial value method. Any excess of fair value of consideration transferred over book value is attributable to undervalued land on Simbel's books. Simbel had no retained earnings at the date of acquisition. The following are the $2020$ financial statements for the two operations. Information for Cayce and for Simbel is in U$.$S$.$ dollars $($$$)$ and Egyptian pounds $($E$),$ respectively.

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