On January 1, 2016Baker Company purchased 300 of the 900 shares of Able Company for $30,000 On January 1, the book value of Able Company's assets were $90,000.All of the assets of Able had a book value equal to fair value except a truck with a book value of $14,000 and fair market value of $20000.This truck has a 5 year life with no salvage and Able uses straight line depreciation July 1st 2016 Able declared and paid a $2 per share dividend December 31, 2016Able reported income of $24,000.Able's stock is selling at $98 per share 1-Jul-17 Able declared and paid a $1 per share dividend December 31, 2017Able reported a loss of $1500.Able's stock is selling at $94 per share 1-Jan-18 Baker sold 200 shares of Able at $95 per share.Baker no longer has significant influence over Able 1-Jul-18 Able declares and pays a $2 per share dividend December 31, 2018Able reported income of $15,000 and its stock is selling for $96 per share 1-Jul-19 Able declares and pays a $2 per share dividend October 1, 2019Baker sold the Able stock at $99 per share