On January 2, 2017 Cornwall Corporation acquired 35\% of the voting stock of Kingston Company for $4,000,000 in cash, when Kingston's total book value was $20,000,000. The basis difference was attributed to indefinite life intangibles. During 2017 Kingston reported total net income of $600,000 and paid total dividends of $200,000. Kingston also reported $15,000 in unrealized losses on AFS securities. Kingston sold $5,000,000 in merchandise to Cornwall at a markup of 20% on cost; $312,000 remains in Cornwall's ending inventory. Cornwall uses the equity method to report its investment in Kingston. Required a. Compute Cornwall's equity in net income and equity in other comprehensive income of Kingston for 2017, reported on Cornwall's statement of comprehensive income. b. Compute the ending balance of Comwall's Investment in Kingston account at 2017 year-end. Share of reported income = Unconfirmed profit or loss in ending inventory = Equity in Net Income = Equity in Other Comprehensive Gain or Loss = Ending balance Investment in Kingston account =