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Lawn Ltd$.$ acquired $40\%$ of the common shares of Lecce Ltd$.$ on January $1,2024,$ by paying $$5\mathrm{.}4.$ million for $137,000$ shares. Lecce declared a cash dividend of $$0\mathrm{.}70$ per share in each quarter that Lawn received on March $20,$ June $20,$ September $20,$ and December $20.$ Lecce reported net income of $$1\mathrm{.}37$ million for the year. At December $31,$ the market price of the Lecce shares was $$42$ per share.

$($a$)$

For parts $($a$),($b$),$ and $($c$),$ calculate the ending balance in each account on the statement of financial position and the statement of income affected by this investment. You may omit the Cash account. $($If an amount reduces the account balance then enter with negative sign preceding the number e$.$g$.-45$ or parentheses e$.$g$.(45).)$

Equity Method

FVTPL

Cos

Statement of Financial Position:

Long$-$term Investments

Unrealized Gain on Long$-$term Investments

Statement of Income:

Unrealized Gain on Long$-$term Investments

Question $1$ of $1$

$\frac{18\mathrm{.}75}{25},$vdots,vdots

For parts $($a$),($b$),$ and $($c$),$ calculate the ending balance in each account on the statement of financial position and the statement of income affected by this investment. You may omit the Cash account. $($If an amount reduces the account balance then enter with negative sign preceding the number e$.$g$.-45$ or parentheses e$..(45).)$

nancial Position:

Equity Method

FVTPL

Cost Model

$

$

$

come:

ssociates

$

$

$

n on Long$-$term Investments

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