3)On February 4, 2016, Investor purchased 15% of Investee common stock for $62,000. Investees net income for the years ended December 31 2016 and 2017 were $18,000 and $56,000 respectively. Investee declared no dividends during 2016; however, during 2017, the company declared a $70,000 dividend. On December 31, 2016, the fair value of investees stock that investor owned had increased to $72,000; in 2017, it increased again to $75,000. What is the carrying value of the investment on investors December 31, 2016, balance sheet? Years ago, investor had purchased a debt security of Investee and had classified it as Held-to-Maturity. Investor earned $1,000 in interest revenue from this investment in 2019. At the end of 2019, the amortized cost of this investment was $93,000 and its fair value was $97,000. 4) What should be the carrying value of this investment on Investors 2019 Balance Sheet?

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