The individual financial statements for Abbey Company and Bellstar Company for the year ending December $31,2024,$ follow. Abbey

acquired a $60$ percent interest in Bellstar on January $1,2023,$ in exchange for various considerations totaling $$360,000.$ At the

acquisition date, the fair value of the noncontrolling interest was $$240,000$ and Bellstar's book value was $$470,000.$ Bellstar had

developed internally a trademark that was not recorded on its books but had an acquisition$-$date fair value of $$130,000.$ This intangible$\backslash$table$[[$Items$,$Abbey Company,$\backslash$table$[[$Bellstar$],[$Company$]]],[$Sales$,$$$(830,000),$$$(530,000)$

asset is being amortized over $20$ years. Abbey uses the partial equity method to account for its investment in Bellstar.

Abbey sold Bellstar land with a book value of $$60,000$ on January $2,2023,$ for $$120,000.$ Bellstar still holds this land at the end of the

current year.

Bellstar regularly transfers inventory to Abbey. In $2023,$ it shipped inventory costing $$108,000$ to Abbey at a price of $$180,000.$ During

$2024,$ intra$-$entity shipments totaled $$230,000,$ although the original cost to Bellstar was only $$161,000.$ In each of these years, $20$

percent of the merchandise was not resold to outside parties until the period following the transfer. Abbey owes Bellstar $$50,000$ at

the end of $2024.$