Haynes, Inc., obtained $100$ percent of Turner Company$$s common stock on January $1,2020,$ by issuing $9,000$ shares of $$10$ par value common stock. Haynes$$s shares had a $$15$ per share fair value. On that date, Turner reported a net book value of $$100,000.$ However, its equipment $($with a five$-$year remaining life$)$ was undervalued by $$5,000$ in the company$$s accounting records. Also, Turner had developed a customer list with an assessed value of $$30,000,$ although no value had been recorded on Turner$$s books. The customer list had an estimated remaining useful life of $10$ years.

The following balances come from the individual accounting records of these two companies as of December $31,2020$:

Haynes Turner

Revenues $ $(600,000)$ $ $(230,000)$

Expenses $440,000120,000$

Investment income Not given $0$

Dividends declared $80,00050,000$

The following balances come from the individual accounting records of these two companies as of December $31,2021$:

Haynes Turner

Revenues $ $(700,000)$ $ $(280,000)$

Expenses $460,000150,000$

Investment income Not given $0$

Dividends declared $90,00040,000$

Equipment $500,000300,000$

d$.$ Prepare entry $*$C for the beginning of the Retained Earnings account on a December $31,2021$ by using initial value, partial equity and equity method.