SHeffield Limited owns $90\%$ of Pharaoh Inc. During $2023,$ SHeffield acquired a machine from Pharoah in exchange for its own used machine. Both companies are in the tool$-$making business. The agreed exchange amount is $$1,450,$ although the transaction is nonmonetary. Pharaoh has an original cost of $$6,000$ and carries its machine on its books at a carrying amount of $$1,100$ whereas Sheffield has an original cost of $$7,000$ and carries its machine on its books at a carrying amount of $$1,280.$ Neither company has a balance in the COntributed Surplus account relating to previous related party transactions. Both SHeffield and Pharaoh follows ASPE. Using the related party decision tree and answer the following: