On March 28, 2019, Nillis purchased 400 shares of James Incorporated common stock for $60 per share plus $150 in commissions. James has 2,500 shares of stock issued and outstanding. At the time, Nillis planned to sell the investment by the end of the year. On August 14, 2019, Nillis received 48 additional shares of James Inc. from a stock dividend when the market price of the stock was $62. On September 29, 2019, Nillis sold 100 shares of the James stock at $70 per share less commissions of $50. At the end of 2019, management now intends to hold on to the remaining shares of James for probably two or three more years. However, it could be sold sooner if there is a need for cash. James income for 2019 was $720,000 and the stocks market price on 12/31/19 was $60 per share.

Use equity method or Fair value method

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