On January $1,2020,$ QuickPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Inc., for $$810,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$800,000$ and Retained Earnings of $$40,000.$ The acquisition$-$date fair value of the $10$ percent noncontrolling interest was $$90,000.$ QuickPort attributed the $$60,000$ excess of NetSpeed's fair value over book value to a database with a five$-$year remaining life.

During the next two years, NetSpeed reported the following:

Net Income Dividends Declared

$2020$ $ $80,000$ $ $8,000$

$2021115,0008,000$

On July $1,2020,$ QuickPort sold communication equipment to NetSpeed for $$42,000.$ The equipment originally cost $$48,000$ and had accumulated depreciation of $$9,000$ and an estimated remaining life of three years at the date of the intra$-$entity transfer.

Compute the equity method balance in QuickPort's Investment in NetSpeed, Inc., account as of December $31,2021.$

Prepare the worksheet adjustments for the December $31,2021,$ consolidation of QuickPort and NetSpeed.