On January $1,2023,$ QuickPort Company acquired $90$ percent of the outstanding voting stock of NetSpeed, Incorporated, for $$882,000$ in cash and stock options. At the acquisition date, NetSpeed had common stock of $$900,000$ and Retained Earnings of $$45,000.$ The acquisition$-$date fair value of the $10$ percent noncontrolling interest was $$98,000.$ QuickPort attributed the $$35,000$ 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:

ItemsNet IncomeDividends Declared$2023$$ $46,700$$ $4,700202467,1004,700$

On July $1,2023,$ QuickPort sold communication equipment to NetSpeed for $$24,700.$ The equipment originally cost $$28,200$ and had accumulated depreciation of $$5,300$ and an estimated remaining life of three years at the date of the intra$-$entity transfer.

Required:

Compute the equity method balance in QuickPort's Investment in NetSpeed, Incorporated, account as of December $31,2024.$

Prepare the worksheet adjustments for the December $31,2024,$ consolidation of QuickPort and NetSpeed.