On January 1, 2023, Gomez Company acquired 90 percent of Martin Companys outstanding stock for $744,480. The 10 percent noncontrolling interest had an assessed fair value of $82,720 on that date. Martin's acquisition-date book value consisted of $304,000 common stock and $444,000 retained earnings. Any acquisition-date excess fair value over book value was attributed to an unrecorded licensing agreement owned by Martin with an estimated remaining life of 12 years.

Gomez uses the equity method to account for its investment in Martin.

Also on January 1, 2023, Martin acquired an 80 percent interest in Short Company for $349,200. At the acquisition date, the 20 percent noncontrolling interest fair value was $87,300. Short's acquisition-date book value consisted of $202,000 common stock and $182,000 retained earnings. Any excess fair value was attributed to a fully amortized copyright that had a remaining life of 5 years. Martin uses the equity method to account for its investment in Short. Reported separate net income (before inclusion of equity method income) totals for 2023 follow:

Martin Company	$ 176,600
Short Company	123,200

The following are the 2024 financial statements for these three companies (credit balances indicated by parentheses). Short has transferred inventory to Martin since the takeover amounting to $74,000 (2023) and $84,000 (2024). These transactions include the same markup applicable to Shorts outside sales. In each year, Martin carried 20 percent of this inventory into the succeeding year before disposing of it. An effective tax rate of 21 percent is applicable to all companies. All dividend declarations are paid in the same period.

Accounts	Gomez Company	Martin Company	Short Company
Sales	$ (972,000)	$ (618,000)	$ (540,000)
Cost of goods sold	518,400	329,600	270,000
Operating expenses	108,004	150,200	162,000
Equity income of Martin	(187,920)	0	0
Equity income of Short	0	(77,200)	0
Net income	$ (533,516)	$ (215,400)	$ (108,000)
Retained earnings, 1/1/24	$ (952,516)	$ (708,120)	$ (320,000)
Net income (above)	(533,516)	(215,400)	(108,000)
Dividends declared	130,000	0	0
Retained earnings, 12/31/24	$ (1,356,032)	$ (923,520)	$ (428,000)
Cash and receivables	$ 121,000	$ 102,120	$ 92,000
Inventory	116,000	212,000	196,000
Investment in Martin Company	1,161,216	0
Investment in Short Company	0	510,640	0
Land, buildings, and equipment (net)	840,408	750,560	556,000
Total assets	$ 2,258,216	$ 1,575,320	$ 844,000
Liabilities	$ (394,184)	$ (347,800)	$ (208,000)
Common stock	(508,000)	(304,000)	(208,000)
Retained earnings, 12/31/24	(1,356,032)	(923,520)	(428,000)
Total liabilities and equities	$ (2,258,216)	$ (1,575,320)	$ (844,000)

Required:

a1. Prepare schedules that show the calculations of the Investment in Short 12/31/24 account balances.

a2. Prepare schedules that show the calculations of the Investment in Martin 12/31/24 account balances.

Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare schedules that show the calculations of the Investment in Short 12/31/24 account balances Answer is not complete. Complete this question by entering your answers in the tabs below. Prepare schedules that show the calculations of the Investment in Martin 12/31/