On January $1,2024,$ Morey, Incorporated, exchanged $$175,125$ for $25$ percent of Amsterdam Corporation. Morey approprlately applied the equity method to this investment. At January $1,$ the book values of Amsterdam's assets and liabilities approximated their falr values.

On June $30,2024,$ Morey pald $$581,000$ for an additional $70$ percent of Amsterdam, thus Increasing its overall ownership to $95$ percent. The price pald for the $70$ percent acquisition was proportionate to Amsterdam's total fair value. At June $30,$ the carrylng amounts of Amsterdam's assets and liabilitles approximated thelr falr values. Any remaining excess fair value was attributed to goodwill.

Amsterdam reports the following amounts at December $31,2024($credit balances shown In parentheses$)$:

$\backslash$table$[[$Revenues$,$$$(320,000)$