Why is 11,700 not the answer?

Gant Company purchased 30 percent of the outstanding shares of Temp Company for $72,000 on January 1, 20X6. The following results are reported for Temp Company:

	20X6			20X7			20X8
Net income	$	47,000		$	42,000		$	55,000
Dividends paid		13,000			29,000			18,000
Fair value of shares held by Gant:
January 1		72,000			91,000			88,000
December 31		91,000			88,000			99,000

Required: Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gants investment in Temp at the end of each year assuming that Gant uses the following options in accounting for its investment in Temp:

1. Carries the investment at fair value.
2. Uses the equity method.

Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amounts reported by Gant as income from its investment in Temp for each year and the balance in Gant's investment in Temp at the end of each year assuming that Gant uses the fair value option accounting for its investment in Temp. 20X6 Income from investment Balance in investment $ $ 22,900 91,000 20X7 20x8 $ 11,700 $ 16,400 $ 88,000 $ 99,000