Solve for (b) please, the above photo is just so you can read the question

Metlock Inc., a public company, owns 20\% of Dong Ltd.'s common shares for strategic purposes. The investment's carrying amount at January 1,2024 , is $302,200. During the year, Dong reported profit of $259,900 and paid a dividend of $23,600. The investment's fair value on December 31, 2024, Metlock's year end, is $312,800. (a) Assuming Metlock has significant influence over Dong, indicate the amount reported on the balance sheet for the investment at December 31 and the amount of income from this investment reported in the income statement. (b) Assume instead that Metlock is a private company and reports the investment using cost. Indicate the amount reported on the balance sheet for the investment at December 31 and the amount of income from this investment reported in the income statement. Assume instead that Metlock is a private company and reports the investment using cost. Indicate the amount reported on the balance sheet for the investment at December 31 and the amount of income from this investment reported in the income statement. Cost Method Balance Sheet: Income Statement