Analyzing and Interpreting Equity Method Investments (FSET) Stober Company purchases an investment in Lang Company at a purchase price of $1,500,000 cash, representing 30% of the outstanding stock and book value of Lang. During the year, Lang reports net income of $150,000 and pays cash dividends of $60,000. At the end of the year, the fair value of Stober's investment is $1,800,000. a. At what amount is the investment reported on Stober's balance sheet at year-end? $ b. What amount of income from investments does Stober report? $ c. Record each of the transactions and events from above in the financial statement effects template. Note: Use a negative sign with your answer, when appropriate. Transaction i. Purchase stock in Lang Company. ii. Recognize share of Lang income. iii. Receive dividend from Lang. Balance Sheet Cash Asset Noncash Assets Contributed Earned Liabilities + Capital + Capital Revenues Income Statement Net Expenses Income