Martinez 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 $3,550,000. Gloven Corp. pays out 35% of its net income in dividends each year. Assume that Martinez Ltd. applies IFRS and that the 25% holding of Gloven shares is sufficient to enable Martinez 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
116,000
			40,600
			11,500

How much was Martinez Ltd.s share of Gloven Corp.s net income for the year?

Share of Martinez Ltd. in Gloven Corp.s net income $enter a dollar amount

How much was Martinez Ltd.s share of Gloven Corp.s dividends for the year?

Share of Martinez Ltd. in Gloven Corp.s dividend $enter a dollar amount

How much was Martinez Ltd.s annual depreciation of the excess payment for capital assets?

Annual depreciation $enter a dollar amount

What was Gloven Corp.s total net income for the year?

Gloven Corp.s total net income $enter a dollar amount

What were Gloven Corp.s total dividends for the year?

Gloven Corp.s total dividends $enter a dollar amount

Assuming that depreciable assets had a remaining useful life of 10 years when Martinez acquired its investment in Gloven, how much of the payment in excess of carrying amount was assigned to goodwill?

Excess of carrying amount assigned to goodwill $enter a dollar amount