Baltimore Company purchased 16,000 shares of the stock of Towson Company at $10 per share.Company has a 30% ownership stake.On August 1, 2018, Towson Company paid cash dividends of $23,000.Baltimore Company intended this investment to a long-term investment.On December 31, 2018, Towson Company reported $55,000 of net income for FY 2018.Additionally, the current market price for Towson Company's stock increased to $19 per share at the end of the year.Use this information to determine, how much Baltimore Company should report for its investment in Towson Company on December 31, 2018.