Pina Colada Corporation had the following portfolio of investments at December 31, 2023, that qualified and were accounted for using the FV-OCI method: Quantity Percentage Interest Cost per Fair Value Share per Share Frank Inc. 1,900 shares 8% $10 $15 Ellis Corp. Mendota Ltd. 5,100 shares 4,100 shares 14% 25 21 2% 30 24 Early in 2024, Pina Colada sold all the Frank shares for $16 per share, less a 1% commission on the sale. On December 31, 2024, Pina Colada's portfolio consists of the following common shares: Quantity Percentage Interest Fair Value Cost per Share Ellis Corp. 5,100 shares 14% $25 $30 Mendota Ltd. 4,100 shares 2% 30 23 Kaptein Inc. 2,400 shares 1% 25 22 Assume that Pina Colada reports net income of $159,300 for its year ended December 31, 2024, and that the company follows a policy of capitalizing transaction costs. Realized gains and losses on equity investments are reclassified from accumulated other comprehensive income directly to retained earnings.