ProForm acquired $80$ percent of ClipRite on June $30,2023,$ for $$1,440,000$ in cash. Based on ClipRite's acquisition$-$date fair value, an unrecorded intangible of $$760,000$ was recognized and is being amortized at the rate of $$19,000$ per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $$360,000$ at the acquisition date. The $2024$ financial statements are as follows:ProForm acquired $80$ percent of ClipRite on June $30,2023,$ for $$1,440,000$ in cash. Based on ClipRite's acquisition$-$date fair value, an unrecorded intangible of $$760,000$ was recognized and is being amortized at the rate of $$19,000$ per year. No goodwill was recognized in the acquisition. The noncontrolling interest fair value was assessed at $$360,000$ at the acquisition date. The $2024$ financial statements are as follows: