Bridgeport Ltd. invested $1,250,000 in Gloven Corp. early in the current year, receiving 25% of its outstanding shares. At the time of the purchase, Gloven Corp. had a carrying amount of $2,875,000. Gloven Corp. pays out 35% of its net income in dividends each year. Assume that Bridgeport Ltd. applies IFRS and that the 25% holding of Gloven shares is sufficient to enable Bridgeport to significantly influence the operating, investing, and financing decisions of Gloven. Use the information in the following T account for the investment in Gloven to answer the following questions: Investment in Gloven Corp. 1,250,000 101,000 35,350 19,000 Collapse question part (a) Incorrect answer. Your answer is incorrect. Try again. How much was Bridgeport Ltd.s share of Gloven Corp.s net income for the year? Share of Bridgeport Ltd. in Gloven Corp.s net income $