On May $31,2026,$ Ivanhoe Company paid $$3,640,000$ to acquire all of the common stock of

Oriole Corporation, which became a division of Ivanhoe. Oriole reported the following balance

sheet at the time of the acquisition:

Current assets $$936,000$ Current liabilities $$624,000$

Noncurrent

assets

$2,808,000$ Long$-$term liabilities $520,000$

Stockholder's equity $2,600,000$

Total assets $$3,744,000$ Total liabilities and stockholder's equity $$3,744,000$

It was determined at the date of the purchase that the fair value of the identifiable net assets of

Oriole was $$3,224,000.$ At December $31,2026,$ Oriole reports the following balance sheet

information:

Current assets $$832,000$

Noncurrent assets $($including goodwill recognized in purchase$)2,496,000$

Current liabilities $(728,000)$

Long$-$term liabilities $(520,000)$

Net assets $$2,080,000$

It is determined that the fair value of the Oriole division is $$2,288,000.$