On January 1, Sunland Corporation purchased a 25% equity investment in Carla Vista Corporation for $456,000. On December 31, Carla Vista paid a $14,700 dividend and reported a net profit of $91,500. The fair value of the shares on December 31 was $425,000.

b)Determine the amount that Sunland reported as the investment in Carla Vista Corporation at December 31.

On January 1, Sunland Corporation purchased a 25% equity investment in Carla Vista Corporation for $456,000. On December 31, Carla Vista paid a $14,700 dividend and reported a net profit of $91,500. The fair value of the shares on December 31 was $425,000. (a) Your Answer Correct Answer (Used) Record the above transactions and events. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.) Date Account Titles and Explanation Debit Credit Jan 1 Investment in Associates 456,000 Cash 456,000 Dec 31 Cash 3,675 Investment in Associates 3,675 (To record dividend received from associates) (b) Determine the amount that Sunland reported as the investment in Carla Vista Corporation at December 31. Investment $ e Textbook and Media List of Accounts Save for Later Attempts: 0 of 3 used Submit