On January 1, 2010, Mehan, incorporated purchased 15000 shares of cook company for 150000 giving Mehan a 15% ownership of cook. On January 1 2011 Mehan purchased an additional 25000 shares(25%) of cook for 300000. This last purchase gave Mehan the ability to apply significant influence over cook. The book value of cook on January 1, 2010 was 1000000. The book value of cook on January 1 2011 was 1150000. Any excess of cost over book value for this second transaction is assigned to a database and amortized over five years. Cook reports net income and dividends as follows. These amounts are assumed to have occurred evenly throughout the years. Net income. Dividends 2010 200000 50000 2011 225000 50000 2012 250000 60000 On April 1 2012 just after its first dividend receipt, Mehan sells 10000 shares of its investment. 1. What was the balance in the investment account at December 31, 2011? A. 517500 B. 537500 C. 520000 D. 540000 E. 211250 2. What was the balance in the investment account at April 1, 2012 just before the sale of shares? A. 468281 B. 468750 C. 558375 D. 616000 E. 624375 3. How much of cooks net income did Mehan report for the year 2012? A. 61750 B. 81250 C. 72500 D. 59250 E. 75000 Please show me how to get the