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On January 2, 2020, Percy Weasley Corporation purchased 15% of Clearwater Corporation's common stock for $58,000. Clearwater's net income for 2020 was $130.000. During 2020,
On January 2, 2020, Percy Weasley Corporation purchased 15% of Clearwater Corporation's common stock for $58,000. Clearwater's net income for 2020 was $130.000. During 2020, Clearwater declared and paid a dividend of $67,500. On December 31, 2020, the fair value of the Clearwater stock owned by Percy Weasley Corporation had increased to $70,000. How much should Percy Weasley report in its 2020 income statement from this investment
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