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 $$650,000.$ Any excess fair value was assigned to intangible assets and amortized at a rate of $$8,000$ per year.

Placid Lake's $2021$ net income before consideration of its relationship with Scenic $($and before adjustments for intra$-$entity sales$)$ was $$550,000.$ Scenic reported net income of $$360,000.$ Placid Lake declared $$180,000$ in dividends during this period; Scenic paid $$65,000.$ At the end of $2021,$ selected figures from the two companies' balance sheets were as follows: