On July $1,2024,$ Clearwater Incorporated purchased $6,500$ shares of the outstanding common stock of Mountain Corporation at a cost of $$165,000.$ Clearwater will have significant influence over the financial and operating policies of Mountain. Mountain had $26,000$ shares of outstanding common stock. Assume the total book value and fair value of identifiable net assets is $$610,000.$ Both companies have a January through December fiscal year. The following data pertains to Mountain Corporation during $2024$:

$\backslash$table$[[$Dividends declared and paid, January $1-$June $30,$$$11,600$