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1 . On January 1 , 2 0 1 8 , Apex Ltd . acquired 2 0 % of Marvel Corp. s outstanding common stock
On January Apex Ltd acquired of Marvel Corp.s outstanding common stock for $
and did not have significant influence. Marvel reported net income of $ in and paid out
dividends of $ The fair value of Apexs investment was $ as of December On
January Apex purchased an additional of Marvel for $ thereby gaining significant
influence over Marvel. During Marvel earned $ and paid $ in dividends. As of
December Marvel reported a net book value of $ At the date of the second purchase,
Apex determined that Marvel Corp.s book values approximated fair values and attributed any excess cost
to goodwill. On Apexs December balance sheet, what balance was reported for the Investment
in Marvel Corp. account? What amount of equity income should Apex have reported for
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