Windsor John Inc. acquired 20% of the outstanding common stock of Theresa Crane Inc. on December 31, 2025. The purchase price was $1,214,400 for 52,800 shares. Crane Inc. declared and paid an $0.80 per share cash dividend on June 30 and on December 31, 2026. Crane reported net income of $768,000 for 2026. The fair value of Crane's stock was $26 per share at December 31, 2026. Assume that the security is a trading security.