Based on the following data:

1. Gottsbucks paid $500,000 to buy 10,000 shares of Selfie Stick, on January 2, 2018.

2. Selfie Stick declared and paid a $1 per share cash dividend on December 15, 2018.

3. Selfie Stick reported Net Income of $600,000 for the year ended December 31, 2018.

4. The fair (market) value of Selfie Stick stock was $55 per share (total value of 10,000 shares is $550,000) on December 31, 2018.

What total dollar amount of revenues will Gottsbucks show on its Income Statement for 2018 related to the Selfie Stick stock, if it owns 10% of the stock of Selfie Stick, and the shares are treated as a Trading Security?

AND

What dollar amount will Gottsbucks show as an asset on its December 31, 2018 Balance Sheet for the Selfie Stick stock, if it owns 10% of the stock of Selfie Stick, and the shares are treated as a Trading Security?