Peace Company issued common shares with a par value of $$59,000$ and a market value of $$159,300$ in exchange for $30$ percent

ownership of Symbol Corporation on January $1,20$X$2.$ Symbol reported the following balances on that date:

The estimated economic life of the patents held by Symbol is $4$ years. The buildings and equipment are expected to last $6$ more years

on average. Symbol paid dividends of $$15,000$ during $202$ and reported net income of $$87,000$ for the year.

Required:

Compute the amount of investment income $($loss$)$ reported by Peace from its investment in Symbol for $202$ and the balance in the

investment account on December $31,20$X$2,$ assuming the equity method is used in accounting for the investment.

Note: If a loss occurs, enter the amount as a negative number.

Answer is complete but not entirely correct.