On January $1,2023,$ Ridge Road Company acquired $20$ percent of the voting shares of Sauk Trail, Incorporated, for $$2,800,000$ in cash. Both companies provide commercial Internet support services but serve markets in different industries. Ridge Road made the investment to gain access to Sauk Trail's board of directors and thus facilitate future cooperative agreements between the two firms. Ridge Road quickly obtained several seats on Sauk Trail's board, which gave it the ability to significantly influence Sauk Trail's operating and investing activities.

The January $1,2023,$ carrying amounts and corresponding fair values for Sauk Trail's assets and liabilities follow:

$\backslash$table$[[$Assets and Liabilities,Carrying Amount,Fair Value$],[$Cash and Receivables,$$115,000,$$$115,000$