Analyzing and Interpreting Equity Method Investments Concord Company purchases an investment in Bloomingdale Company at a purchase price of $1 million cash, representing 30% of the book value of Bloomingdale. During the year, Bloomingdale reports net income of $250,000 and pays cash dividends of $70,000. At the end of the year, the market value of Concord's investment is $1.2 million. a. What amount does Concord report on its balance sheet for its investment in Bloomingdale? $ b. What amount of income from investments does Concord report? $ C. The fair value of Bloomingdale increased during the year creating an unrealized gain for Concord. This unrealized gain in the fair value of the Bloomingdale investment (choose one): O(1) Is not reflected on either its income statement or balance sheet. (2) Is reported in its current income. 0(3) Is reported on its balance sheet only. 0(4) Is reported in its accumulated other comprehensive income