on February 15, jewel company buys 7,000 shares

On February 15, Jewel Company buys 7,000 shares of Marcelo Corp. at $28,53 per share. The stock is classified as a stock investment with insignificant influence. This is the company's first and only stock investment. On March 15, Marcelo Corp, declares a dividend of \$1,15 per share payabie to stockholders of record on April 15. Jewel Company received the dividend on April 15 and ultimately sells half of the Marcelo Corp. stock on November 17 of the current year for $29.30 per share. The fair value of the remaining 3,500 shares is $29.50 per share. The amount that Jewel Company should report in the asset section of its year-end December 31 balance sheet for its investment in Marcelo Corp. is: Select one: a. $200,110 b. $103,250. c. $2,245 d. $3,195 e. $5,440