On January $1,2025,$ Trout Company purchased an $80\%$ interedt in the capital stock of Sardine Company for $$3,400,000$ At that time, Sardine Company had common stock of $$2,200,000$ and retained earnings of $$620,000.$ Trout Company uses the cost method to record its investnent in Sardine Company. Differences between the fair value and the book value of the identifiable assets of Sardine Company were as follows: