On January 1, 2022, Windsor, Inc. paid $675000 for 100000 shares of Sheridan Company's common stock, which represents 25% of Sheridans outstanding common stock. Sheridan reported income of $202500 and paid cash dividends of $70000 during 2022 Windsor should report the investment in Sheridan Company on its December 31, 2022, balance sheet at

$728125.

$653125.

$708125.

$673125.