reported retained earnings of $$75,000$ on the date of acquisition. The trial balances for Plimsol Company and Shipping Corporation as of December $31,20$X$4,$ follow:

$\backslash$table$[[$Item$,$Plimsol Company,Shipping,Corporation$],[,$Debit,Credit,,Debit,,Credit$],[$Current Assets,$$,160,000,,$$$,115,000,,],[$Depreciable Assets $($net$),,180,000,,,135,000,,],[$Investment in Shipping Corporation,,$125,000,,,,,],[$Other Expenses,,$85,000,,,60,000,,],[$Depreciation Expense,,$20,000,,,15,000,,],[$Dividends Declared,,$30,000,,,15,000,,],[$Current Liabilities,,,$$25,000,,,,$$$20,000$