Placid Lake Corporation acquired $80$ percent of the outstanding voting stock of Scenic, Incorporated, on January $1,2023,$ when Scenic had a net book value of $$420,000.$ Any excess fair value was assigned to intangible assets and amortized at a rate of $$5,000$ per year.

Placid Lake's $2024$ net income before consideration of its relationship with Scenic $($and before adjustments for intra$-$entity sales$)$ was $$320,000.$ Scenic reported net income of $$130,000.$ Placid Lake declared $$120,000$ in dividends during this period; Scenic paid $$42,000.$ At the end of $2024,$ selected figures from the two companles' balance sheets were as follows:

$\backslash$table$[[$Items$,$Placid Lake,Scenic$],[$Inventory$,$$$160,000,$$$92,000$