On January $1,2022,$ Palmcroft Company acquired $100$ percent of the outstanding voting shares of Salt River, Incorporated. for $$740,000$ cash. At January $1,2022,$ Salt River's net assets had a total carrying amount of $$518\mathrm{.}000.$ Equipment $($eight$-$year remaining life$)$ was undervalued on Salt River's financial records by $$106\mathrm{.}000.$ Any remaining excess fair over book value was attributed to a database developed by Salt River $($four$-$year remaining life$),$ but not recorded on its books.

Palmcroft applies the equity method to account for its investment in Salt River. Each year since the acquisition, Salt River has declared a $$22,000$ dividend. Salt River recorded net income of $$83,000$ in $2022$ and $$97,100$ in $2023.$

selected account balances from the two companies individual records were as follows:

Items

Palmcroft

Salt River

$2024$ Revenues

$ $527,000$

$ $334,800$

$2024$ Expenses

$353,000$

$239,000$

$2024$ Income from Salt River

$53,550$

Retained earnings, $12/31/24$

$282,550$

$201,700$

What is consolidated net income for Palmcroft and Salt River for $2024?$On January $1,2022,$ Palmcroft Company acquired $100$ percent of the outstanding voting shares of Salt River, Incorporated. for $$740,000$ cash. At January $1,2022,$ Salt River's net assets had a total carrying amount of $$518\mathrm{.}000.$ Equipment $($eight$-$year remaining life$)$ was undervalued on Salt River's financial records by $$106\mathrm{.}000.$ Any remaining excess fair over book value was attributed to a database developed by Salt River $($four$-$year remaining life$),$ but not recorded on its books.

Palmcroft applies the equity method to account for its investment in Salt River. Each year since the acquisition, Salt River has declared a $$22,000$ dividend. Salt River recorded net income of $$83,000$ in $2022$ and $$97,100$ in $2023.$

selected account balances from the two companies individual records were as follows:

Items

Palmcroft

Salt River

$2024$ Revenues

$ $527,000$

$ $334,800$

$2024$ Expenses

$353,000$

$239,000$

$2024$ Income from Salt River

$53,550$

Retained earnings, $12/31/24$

$282,550$

$201,700$

What is consolidated net income for Palmcroft and Salt River for $2024?$