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On January $1,2023,$ Panther, Incorporated, issued securities with a total fair value of $$577,000$ for $100$ percent of Stark Corporation$$s outstanding ownership shares. Stark has long supplied inventory to Panther. The companies expect to achieve synergies with production scheduling and product development with this combination.

Although Stark$$s book value at the acquisition date was $$300,000,$ the fair value of its trademarks was assessed to be $$45,000$ more than their carrying amounts. Additionally, Stark$$s patented technology was undervalued in its accounting records by $$232,000.$ The trademarks were considered to have indefinite lives, and the estimated remaining life of the patented technology was eight years.

In $2023,$ Stark sold Panther inventory costing $$75,000$ for $$125,000.$ As of December $31,2023,$ Panther had resold $74$ percent of this inventory. In $2024,$ Panther bought from Stark $$140,000$ of inventory that had an original cost of $$70,000.$ At the end of $2024,$ Panther held $$38,000($transfer price$)$ of inventory acquired from Stark, all from its $2024$ purchases.

During $2024,$ Panther sold Stark a parcel of land for $$88,000$ and recorded a gain of $$16,000$ on the sale. Stark still owes Panther $$62,000($current liability$)$ related to the land sale.

At the end of $2024,$ Panther and Stark prepared the following

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