Required information [The following information applies to the questions displayed below.) Felicia Company acquired 22,000 of the 55,000 shares of outstanding common stock of Nueces Corporation as a long term investment. The annual accounting period for both companies 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 reported net income of $104,000 Dec. 31 Nueces Corporation declared and paid a cash dividend of $0.70 per sbare. Dec. 31 Determined the fair value of Nueces stock to be $13 per share. 3. Show how the long-term investment and the related revenue should be reported on the financial statements of Felicia Company FELICIA COMPANY Balance Sheet Long-term Investments Income Statement