On January 1, 2016, Halstead, Inc., purchased 83,.000 shares of Sedgwick Company common stock for $1.529.000. giving Haistead 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. Dividends are declared and paid in the same period. These amounts are assumed to have occurred evenly throughout these years. Annual Cash Dividends (paid quarterly) $124,e0e 144,800 177,080 Net Income 2016 $357,688 399,e80 601,88e 2017 2018 On July 1,2018, Halstead seils 12.500 shares of this investment for $23 per share thus feducing is 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 investment in Sedgwick's common stock. ownership and partial sale of its As total income accrual (no unearned gains) eain on sale of shares As On January 1, 2016, Halstead, Inc., purchased 83,000 shares of Sedgwick Company common stock for $1,529,000, 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 Dividends are declared and paid in the same period. 1 Cash Dividends ( quarterly) $124,800 Net Income $357,00e 2016 2017 2018 399,08e 601,008 144,800 177,009 On July 1, 2018, Halstead sells 12.500 shares of this investment for $23 per share, thus reducing ts 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)S 3230 As gain on sale of shares