On January $1,2022,$ Patrick Company purchased $60\%$ of the common stock of Solomon Company for $$180,000.$ On this date, Solomon had common stock, other paid$-$in capital, and retained earnings of $$20,000,$$$60,000,$ and $$120,000$ respectively,

On January $1,2022,$ the only tangible asset of Solomon that was undervalued was land, which was worth $$15,000$ more than book value.

On January $1,2023,$ Patrick Company purchased an additional $30\%$ of the common stock of Solomon Company for $$140,000.$

Net income and dividends for $2$ years for Solomon Company were:

$\backslash$table$[[$Net income for year,$2022,2023],[$Dividends$,$ paid$-$in December,$$50,000,$$$80,000$