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On January 1, 2016, Halstead, Inc, purchased 71,000 shares of Sedgwick Company common stock for $1,554,000, giving Halstead 25 percent ownership and the ability to

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On January 1, 2016, Halstead, Inc, purchased 71,000 shares of Sedgwick Company common stock for $1,554,000, giving Halstead 25 percent ownership and the ability to apply significant influence over Sedgwick. Any excess of cost over book value acquired was attributed solely to goodwill. Sedgwick reports net income and dividends as follows. These amounts are assumed to have occurred evenly throughout these years Dividends are declared and paid in the same period. Annual Cash Dividends (paid quarterly) $112,008 154,000 173,000 Net Income 375,000 442,000 619,000 2016 2017 2018 8, Halstead sells 13,400 shares of this investmenior $27 per share, thus reducing its interest from 25 to 21 percent, but maintaining its significant influence Determine the amounts that would appear on Halstead's 2018 income statement relating to its ownership and partial sale of its investment in Sedgwick's common stock As total income accrual (no unearned gains) on sale of shares As

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