On January 1, 2016, Bryant, Inc. decides to invest in 7,500 shares of Dressage stock when the stock is selling for $10 per share. On July 1, 2016, Dressage paid a $ 0.90 per share cash dividend to stockholders. On December 31, 2016, Dressage reports net income of $80,000 for 2016. Assume Dressage has 30,000 shares of voting stock outstanding during 2016.

Requirement 1. Identify what type of investment the Dressage stock is for Bryant.

Bryant's investment would be (a controlling interest, a held-to-maturity, a significant interest, an available-for-sale) investment.

Requirement 2. Journalize the transactions related to Bryant's investment in the Dressage stock during 2016.

(Record debits first, then credits. Select the explanation on the last line of the journal entry table. If no entry isrequired, select "No entry required" on the first line of the Accounts and Explanation column and leave the remaining cells blank.)

January 1: Bryant, Inc. decides to invest in 7,500 shares of Dressage stock when the stock is selling for $10 per share.

July 1:Dressage paid a $0.90 per share cash dividend to stockholders

December 31:Dressage reports net income of $80,000 for 2016.

Requirement 3. In what category and at what value would Bryant's report the investment on the December 31,2016, balance sheet?

Bryant would report a (long-term asset, long-term liability,short-term asset, short-term liabiltity) of $____ on the December 31, 2016, balance sheet.