Better Boat Company's Alice and Zohar Walworth are pleased with the growth of their business and have decided to invest its

$($Click the icon to view the securities transactions.$)$

Read the requirements.

Dec. $31$: Billybo Backpacks reported net income of $$50,000$ for the year. Better Boat Company's share of the net income is $$7,$

Dec. $31$: Adjusted the Aldrich stock for a market value of $$4\mathrm{.}88$ per share.

Requirement $2.$ Determine the effect on Better Boat Company's net income for the year for each of the three investments. $($En

Review the journal entries prepared in Requirement $1.$

Reference