On January $1,2023,$ QuickPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Incorporated, for $$1,107,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$1,150,000$ and Retained Earnings of $$57,500.$ The acquisition$-$date fair value of the $10$ percent noncontrolling interest was $$123,000.$ QuickPort attributed the $$22,500$ excess of NetSpeed's fair value over book value to a database with a five$-$year remaining life.

During the next two years, NetSpeed reported the following:

$\backslash$table$[[$Items$,$Net Income,Dividends Declared$],[2023,$$$31,500,$$$4,500$