On January $1,2024,$ Alamar Corporation acquired a $38$ percent interest in Burks, Incorporated, for $$199,000.$ On that date, Burks$$s balance sheet disclosed net assets with both a fair and book value of $$325,000.$ During $2024,$ Burks reported net income of $$75,000$ and declared and paid cash dividends of $$22,000.$ Alamar sold inventory costing $$25,000$ to Burks during $2024$ for $$38,000.$ Burks used all of this merchandise in its operations during $2024.$

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