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???? my work On January 1, 2017, Stream Company acquired 21 percent of the outstanding voting shares of Q-Video, Inc, for $620,000 Q-Video manufactures specialty
???? my work On January 1, 2017, Stream Company acquired 21 percent of the outstanding voting shares of Q-Video, Inc, for $620,000 Q-Video manufactures specialty cables for computer monitors. On that date, Q-Video reported assets and liabilities with book values of $2.2 million and $600,000, respectively. A customer list compiled by Q-Video had an appraised value of $324,000, 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 $282,000 in 2017 and a net loss of $100,000 in 2018. In each of these two years, Q-Video declared and paid a cash dividend of $10,000 to its stockholders. During 2017, Q-Video sold inventory that had an original cost of $84,000 to Stream for $168,000. Of this balance, $84,000 was resold to outsiders during 2017, and the remainder was sold during 2018. In 2018, Q-Video sold inventory to Stream for $184,000 This inventory had cost only $138,000. Stream resold $96,000 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.) 2017 of 2018 of
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