Parent purchased $100\%$ of the stock of Subsidiary on January $1,$ Year $1$ for $$600,000.$ On the date of the acquisition, Subsidiary$$s stockholders$$ equity was $$550,000.$ Subsidiary had an unrecorded trademark with a fair value of $$50,000$ and a remaining useful life of $5$ years.

During Year $1,$ Subsidiary reported net income of $$12,000$ and paid dividends of $$3,000.$ During Year $2,$ Subsidiary reported net income of $$18,000$ and paid dividends of $$5,000.$

Parent regularly sells inventory to Subsidiary at a $40\%$ profit margin. At the end of Years $1$ and $2,$ Subsidiary held inventory purchased from Parent for $$8,000$ and $$6,000,$ respectively. $($All of the inventories on hand at the end of the year are sold by the Subsidiary to unaffiliated companies in the next period.$)$

$8)$ What amount of Equity Income Parent does report in its Year $2$ pre$-$consolidation financial state

$9)$ What Equity Investment balance does Parent report in its Year $2$ pre$-$consolidation financial statements?ments?