Help Save & Exit Submit Check my work 4 5 ts eBook On January 1, 2017, Stream Company acquired 30 percent of the outstanding voting shares of Q-Video, Inc., for $670,000. Q-Video manufactures specialty cables for computer monitors. On that date, Q-Video reported assets and liabilities with book values of $1.6 million and $674,000, respectively. A customer list compiled by Q-Video had an appraised value of $382,000, although it was not recorded on its books. The expected remaining life of the customer list was 5 years with a straight-line amortization deemed appropriate. Any remaining excess cost was not identifiable with any particular asset and thus was considered goodwill. Q-Video generated net income of $248,000 in 2017 and a net loss of $132,000 in 2018. In each of these two years, Q-Video declared and paid a cash dividend of $18,000 to its stockholders. During 2017, Q-Video sold inventory that had an original cost of $118,080 to Stream for $164,000. Of this balance, $82,000 was resold to outsiders during 2017, and the remainder was sold during 2018. In 2018, Q. Video sold inventory to Stream for $180,000. This inventory had cost only $144,000. Stream resold $104,000 of the inventory during 2018 and the rest during 2019. For 2017 and then for 2018, compute the amount that Stream should report as income from its investment in Q-Video in its external financial statements under the equity method. (Enter your answers in whole dollars and not in millions. Do not round intermediate calculations.) Print of 2017 2018 of a . For