Show the December 31^st numbers under each of the equity and FV-NI methods for:

• Investment in Snowmageddon

• Investment Income (including any applicable changes in fair value)

On January 1, 2020, Commerce Crusaders purchased 2,500 of the 10,000 outstanding common shares of Snowmageddon Limited at a cost of $15 per share. On that date, the balance sheet of Snowmageddon Limited had the following relevant values: Fair Book Market Differenc Account Value Value Current assets $12,000 $0 $12,000 $128,00 $88,000 $40,000 Depreciable capital assets net of accumulated depreciation Goodwill $0 $100,00 ?? ?? Total Liabilities Common shares Retained earnings $50,000 $20,000 $30,000 $100,00 $50,000 $20,000 ?? $0 Total Additional information: The depreciable capital assets have a remaining useful life of 10 years. During the 2020 fiscal year, Snowmageddon Limited had net income of $45,000. During the year, Commerce sold to Snowmageddon inventory with a selling price of $20,000 and a cost of $12,000. The inventory had not been resold by year-end. During the 2020 fiscal year, Snowmageddon Limited paid total cash dividends to its common shareholders of $10,000 ($1.00 per share). Market value per share of Snowmageddon Limited at December 31, 2020 was $18