On 1 January 20X5, Zan Company purchased 7,250 of the 29,000 outstanding common shares of Woo Computer Corp. (WC) for $191,000 cash. Zan had significant influence as a result of the investment and will use the equity method to account for the investment. On 1 January 20X5, the statement of financial position of WC showed the following book values (summarized): Assets not subject to depreciation Assets subject to depreciation (net) Liabilities Common shares Retained earnings $ 238,900* 191, eee** 63,500 285,800 79,300 "Fair value, $270,900, difference relates to land. **Fair value, $223,000, estimated remaining life, 5 years. Assume there is no impairment of goodwill. Additional subsequent data on WC are as follows: Earnings Cash dividends declared and paid Fair value per share 20X5 20X6 $ 63,500 $ 85,500 55,500 75,500 $ 25 $ 50 On 1 January 20X5, Zan Company purchased 7,250 of the 29,000 outstanding common shares of Woo Computer Corp. (WC) for $191,000 cash. Zan had significant influence as a result of the investment and will use the equity method to account for the investment. On 1 January 20X5, the statement of financial position of WC showed the following book values (summarized): Assets not subject to depreciation Assets subject to depreciation (net) Liabilities Common shares Retained earnings $ 238,900* 191, eee** 63,500 285,800 79,300 "Fair value, $270,900, difference relates to land. **Fair value, $223,000, estimated remaining life, 5 years. Assume there is no impairment of goodwill. Additional subsequent data on WC are as follows: Earnings Cash dividends declared and paid Fair value per share 20X5 20X6 $ 63,500 $ 85,500 55,500 75,500 $ 25 $ 50