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20 Assume that, on 1/1/11, Sosa Enterprises paid 53000 000 for its investment in 36,000 shares of Oroles Co Further paik straight-line depreciation with At 1/1/11, fair value of depreciable The has 120 000 total shares of stock issued and estimates an 8 year remaining useful life and residual value for its depreciable assets following infoiable assets exceeds book value by $1.200,000 Net Income Dividends declared and pard Market price of common stock on 1231 1 hare information pertains to Orioles during 2011 $600,000 $360,000 What t would Sosa Enterprises report in its year-end 2011 balance sheet for its investment in Orioles Co.? A $3,200,000 $3,022,500 C. S3, 156.000 D. $3,027,000 E. $3,072,000 21. Corr Nichols Corporation purchased $100,000 of Holly Inc 6% bonds at par with the intent and ability to hold the bonds until they matured in 2015, so Nichols classifies its investment as held to maturity. Unfortunately, a combination of rect answer to this question is marked below().But you must mark your scantron. e debt market caused the fair value of the Holly investment to decline to $70,000 during of the $30,000 drop in fair value, $10,000 of it relates to credit losses and $20,000 2011. Nichols calculates that, relates to non-credit losses Assume that Nichols concludes that the Holly bonds are other-than-temporarily impaired because Nichols believes it is more likely than not that it will have to sell the Taylor bonds before the bonds have a chance to recover their fair value. Before-tax net income for 2011 will be reduced by A $10,000 B. $20,000. "C. $30,000. D. $0. E. None of the above are correct