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Herbert, Incorporated, acquired all of Rambis Company$$s outstanding stock on January $1,2023,$ for $$592,000$ in cash. Annual excess amortization of $$15,700$ results from this transaction. On the date of the takeover, Herbert reported retained earnings of $$408,000,$ and Rambis reported a $$205,000$ balance. Herbert reported internal net income of $$45,000$ in $2023$ and $$58,700$ in $2024$ and declared $$10,000$ in dividends each year. Rambis reported net income of $$25,900$ in $2023$ and $$39,600$ in $2024$ and declared $$5,000$ in dividends each year.