Prime Company holds $80$ percent of Suspect Company$$s stock, acquired on January $1,20$X$2,$ for $ $160,000.$ On the acquisition date, the fair value of the noncontrolling interest was $ $40,000.$ Suspect reported retained earnings of $ $50,000$ and had $$100,000$ of common stock outstanding. Prime uses the fully adjusted equity method in accounting for its investment in Suspect.