$1$

On January $1,2023,$ Harrison, Incorporated, acquired $90$ percent of Starr Company in exchange

for $$1,136,000$ fair$-$value consideration. The total fair value of Starr Company was assessed at

$$1,205,500.$ Harrison computed annual excess fair$-$value amortization of $$9,100$ based on the

$2$ difference between Starr's total fair value and its underlying book value. The subsidiary reported

net income of $$86,500$ in $2023$ and $$95,500$ in $2024$ with dividend declarations of $$41,000$ each

year. Apart from its investment in Starr, Harrison had net income of $$275,000$ in $2023$ and

$$304,000$ in $2024.$

Required:

Note: Use the cells A$2$ to B$12$ from the above information to complete this question. Formulas

for any items to be subtracted must return negative values.

Prepare a schedule that calculates consolidated net income in $2023$ and $2024.$