On July $1,2024,$ Travis Company acquired a $70$ percent interest in Beaver Company in exchange for consideration of $$630,000$ in cash and equity securities$.$ The remaining $30$ percent of Beaver's shares traded closely near an average price that totaled $$270,000$ both before and after Travis's acquisition.

In reviewing its acquisition, Travis assigned a $$100,000$ fair value to a patent recently developed by Beaver, even though it was not recorded within the financial records of the subsidiary. This patent is anticipated to have a remaining life of five years.

Beaver had book value of net assets at $$656,000$ on January $1,2024.$ The affiliates report the following $2024$ amounts from their own separate operations:

$\backslash$table$[[,$Travis,Beaver$],[$Revenues$,$$$600,000,$$$400,000$