Required information [The following information applies to the questions displayed below.] As a long-term investment, Fair Company purchased 20\% of Midlin Company's 110,000 shares for $132,000 at the beginning of the reporting year of both companies. During the year, Midlin earned net income of $116,000 and distributed cash dividends of $0.25 per share. At year-end, the fair value of the shares is $137,500. 2. Assume significant influence was acquired. How will the investment in Midlin Company be reflected in the balance sheet and ncome statement of Fair Company at year-end