As a Long-Term Investment,Martha Company Purchased 5,000 of the 12,500

Question 3

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As a long-term investment,Martha Company purchased 5,000 of the 12,500 outstanding voting shares of Stewart Corporation at $20 per share on January 1,2010.At the end of 2010,Stewart reported net income of $100,000 and declared and paid dividends of $10,000.The market price of the Stewart stock at the end of 2010 was $23 per share.Calculate the net balance in Martha's investment account at the end of 2010.

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