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Compute how much baltimore company should report

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Reference no: EM132515007

Point 1: On January 2, 2018, Baltimore Company purchased 14,000 shares of the stock of Towson Company at $12 per share. Baltimore obtained significant influence as the purchase represents a 30% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $17,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $60,000 of net income for FY 2018. Additionally, the current market price for Towson Company's stock increased to $21 per share at the end of the year.

Question 1: Use this information to Compute, how much Baltimore Company should report for its investment in Towson Company on December 31, 2018. (Round to the nearest dollar.)

Reference no: EM132515007

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