Prince Corporation acquired $75\%$ interest in Summer Corporation on January $1,2021,$ for $$1,200,000,$ when summer's stockholders' equity was $$900,000.$ On this date, the book value of summer's assets and liabilities was equal to the fair value, except for plant assets that were undervalued by $$100,000$ and had a remaining useful life of $20$ years from January $1.$ and Liabilities that were overvalued by $50,000$ which was retired in $2021.$ Summer's net income and dividends for $2021$ were $$250,000$ and $$50,000,$ respectively.

Balance sheet information for Prince and Summer Corporations at December $31,2021,$ are as follows $($in thousands$)$:

$\backslash$table$[[,$Parent,Subsidiary$],[$Cash$,250,000,175,000],[$Receivable$,150,000,225,000],[$Inventory$,513,250,400,000],[$Plant$,$ net,$2,250,000,500,000],[$Investment in$,1,308,750,],[$Summer$,4,472,000,1,300,000$