On January $1,2024,$ Platform Company exchanged $$850,000$ for $40$ percent of the outstanding voting stock of Vector Company. Especially attractive to Platform was a research project underway at Vector that would enhance both the speed and quantity of client$-$accessible data. Although not recorded in Vector$$s financial records, the fair value of the research project was considered to be $$$1,810,000.$ Also Vector possessed unpatented technology with a fair value of $$211,000.$

In contractual agreements with the sole owner of the remaining $60$ percent of Vector, Platform was granted $(1)$ various decision$-$making rights over Vector$$s operating decisions and $(2)$ special service purchase provisions at below$-$market rates. As a result of these contractual agreements, Platform established itself as the primary beneficiary of Vector. Immediately after the purchase, Platform and Vector presented the following balance sheets:

$($Note: Parentheses indicate credit balances.$)$

Accounts Platform Vector

Cash $ $46,000$ $ $26,000$

Investment in Vector $850,0000$

Capitalized software $966,000141,000$

Computer equipment $1,051,00041,000$

Communications equipment $901,000321,000$

Patent $0176,000$

Total assets $ $3,814,000$ $ $705,000$

Long$-$term debt $ $(926,000)$ $ $(601,000)$

Common stock$-$Platform $(2,510,000)0$

Common stock$-$Vector $0(26,000)$

Retained earnings $(378,000)(78,000)$

Total liabilities and equity $ $(3,814,000)$ $ $(705,000)$

Each of the above amounts represents a fair value at January $1,2024.$ The fair value of the $60$ percent of Vector shares not owned by Platform was estimated at $$1,275,000.$