Python acquired $75\%$ of Slither's stock for $$316,000$ in cash on January $2,2023.$ The fair value of the noncontrolling interest in Slither was $$89,000.$ Slither's book value at that time was $$120,000.$ The assets and liabilities reported on Slither's balance sheet had balances that approximated fair value at the date of acquisition. However, Slither had previously unreported developed technology $(10-$year life, straight$-$line$),$ valued at $$40,000.$ There has been no impairment loss on the developed technology since acquisition. Goodwill was impaired by $$6,000$ in $2023,$ and by $$3,000$ in $2024.$ It is now December $31,2024.$ The trial balances of Python and Slither appear below.

Required

a$.$ Calculate the initial goodwill for this acquisition, and its allocation to the controlling and noncontrolling interest.

b$.$ Prepare a schedule calculating equity in net income for $2024,$ reported on Python's books. and noncontrolling interest in net income for $2024,$ reported on the consolidated income statement.

c$.$ Prepare a working paper consolidating the December $31,2024$ trial balances of Pytho and Slither.