On January 1, 2021, Fisher Corporation paid $2,868,000 for 32 percent of the outstanding voting stock of Steel, Inc., and appropriately applied the equity method for its Investment. Any excess of cost over Steel's book value was attributed to goodwill. During 2021, Steel reports $725,000 in net income and a $1,070,000 other comprehensive Income loss. Steel also declares and pays $24,000 In dividends. a. What amount should Fisher report as Its Investment in Steel on Its December 31, 2021, balance sheet? b. What amount should Fisher report as Equity in Earnings of Steel on its 2021 Income statement? a. Investment $ 3,092,320 b. Equity in earnings $ 232,000