Sanford Company owns 25% of the stock of Isabel Industries and has significant influence over Isabel. At the time Sanford acquired the Isabel stock, the fair value of Isabels assets was the same as the book value for all assets. In 2014, Sanford received $100,000 from Isabel in dividends. Isabel reported a 2014 net income of $2,000,000. At the end of 0214, the fair value of Sanfords investment in Isabel was $300,000 higher than the balance in the investment account. How much will Sanford include in 2014 net income from its investment in Isabel?

Please do not copy from chegg otherwise i have to report the answer. Explain the answer throughly with showing each step of the calculation.