On January $1,2022,$ Pride Corporation purchased $90$ percent of the outstanding voting shares of Star, Incorporated, for $$459,000$ cash. The acquisition$-$date fair value of the noncontrolling interest was $$51,000.$ At January $1,2022,$ Star$$s net assets had a total carrying amount of $$356,000.$ Equipment $($eight$-$year remaining life$)$ was undervalued on Star$$s financial records by $$63,200.$ Any remaining excess fair value over book value was attributed to unpatented technology developed by Star $($four$-$year remaining life$),$ but not recorded on its books. Star recorded net income of $$55,300$ in $2022$ and $$63,200$ in $2023.$ Each year since the acquisition, Star has declared a $$15,800$ dividend. At January $1,2024,$ Pride$$s retained earnings show a $$197,500$ balance.

Selected account balances for the two companies from their separate operations were as follows:

Items Pride Star

$2024$ Revenues $ $393,500$ $ $225,200$

$2024$ Expenses $276,600154,100$

$1.$ What is consolidated net income for $2024?$

$2.$ Assuming that Pride, in its internal records, accounts for its investment in Star using the equity method, what amount of retained earnings would Pride report on its January $1,2024,$ consolidated balance sheet?