(6 MARKS) Pearl Corporation paid $300,000 on January 1, 2010 for a 35% interest in Sandlin Ine. On January 1, 2010, the book value of Sandlin's stockholders' equity consisted of $400,000 of common stock and $400,000 of retained earnings. All the excess purchase cost over book value acquired was attributable to a patent with an estimated life of 5 years. During 2010 and 2011, Sandlin paid $6,000 of dividends each quarter and reported net income of S120,000 for 2010 and $160,000 for 2011, Pearl used the equity method Required: 1. Calculate Pearl's income from Sandlin for 2010 (4 marks) 2. Determine the balance of Pearl's Investment in Sandlin account on December 31, 2010 (2 marks)