Lamb, Inc., bought 40% of Hadley Corp.s outstanding voting common stock on January 2 for $400,000, which equaled a proportionate share of the fair value of the net assets. The carrying amount of the net assets at the purchase date was $900,000. Fair values and carrying amounts were the same for all items except for a plant, for which fair values exceeded its carrying amounts by $100,000. The plant has a remaining useful life of 4 years. During the year, Hadley reported net income of $170,000 and paid a $20,000 cash dividend. What amount should Lamb report in its income statement from its investment in Hadley for the year ended December 31?