On July $1,2024,$ Truman Company acquired a $70$ percent interest in Atlanta Company in exchange for consideration of $$842,500$ in cash and equity securities$.$ The remaining $30$ percent of Atlanta's shares traded closely near an average price that totaled $$342,500$ both before and after Truman's acquisition.

In reviewing its acquisition, Truman assigned a $$127,500$ fair value to a patent recently developed by Atlanta, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years.

The following financial information is available for these two companies for $2024.$ In addition, the subsidiary's income was earned uniformly throughout the year. The subsidiary declared dividends quarterly.

$\backslash$table$[[$Items$,$Truman,Atlanta$],[$Revenues$,$$$(739,075),$$$(479,000)$