Placid Lake Corporation acquired $70$ percent of the outstanding voting stock of Scenic, Inc., on January $1,2020,$ when Scenic had a net book value of $$590,000.$ Any excess fair value was assigned to intangible assets and amortized at a rate of $$7,000$ per year.

Placid Lake's $2021$ net income before consideration of its relationship with Scenic $($and before adjustments for intra$-$entity sales$)$ was $$490,000.$ Scenic reported net income of $$300,000.$ Placid Lake declared $$180,000$ in dividends during this period; Scenic paid $$59,000.$ At the end of $2021,$ selected figures from the two companies' balance sheets were as follows:

Placid Lake Scenic

Inventory $ $330,000$ $ $109,000$

Land $790,000390,000$

Equipment $($net$)590,000490,000$

During $2020,$ intra$-$entity sales of $$170,000($original cost of $$80,000)$ were made. Only $10$ percent of this inventory was still held within the consolidated entity at the end of $2020.$ In $2021,$ $$280,000$ in intra$-$entity sales were made with an original cost of $$78,000.$ Of this merchandise, $20$ percent had not been resold to outside parties by the end of the year.

Each of the following questions should be considered as an independent situation for the year $2021.$