At the beginning of the year, Gilman Company purchased 10,000 of the 200,000 shares of common stock of Burke Corporation at $40 per share as a long-term investment. The records of Burke Corporation showed the following by the end of the year: Net Income Dividends Paid Market Price per Share $415,000. $380,000. $400,000. What amount should Gilman Company report in its year-end balance sheet for its investment in Burke? $425,000. $500,000 None of the above. $ 200,000 $ 38

At the beginning of the year, Gilman Company purchased 10,000 of the 200,000 shares of common stock of Burke Corporation at $40 per share as a long-term investment. The records of Burke Corporation showed the following by the end of the year: What amount should Gilman Company report in its year-end balance sheet for its investment in Burke? $415,000. $380,000. $400,000. $425.000. None of the above