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Felicia Company acquired $22\mathrm{.}000$ of the $55\mathrm{.}000$ shares of outstanding common stock of Nueces Corporation as a long

term investment. The annual accounting period for both companles ends December $31.$ The following transactions

occurred during the year:

Jan. $10$ purchased $22,000$ shares of Nueces common stock at $$14$ per share,

Dec. $31$ Nueces Corporation roported net income of $$104,000.$

Dec. $31$ Nueces Corporation declared and paid a cash dividend of $50\mathrm{.}70$ per share.

Dec. $31$ Determined the falr value of Nueces atock to be $$13$ per thaze.

Show how the long$-$term investment and the related revenue should be reported on the financial statements of Felicia Company.