Check my work Problem 1-21 (LO 1-1, 1-2, 1-3, 1-4, 1-5a) On January 1, 2016, Halstead, Inc., purchased 79,000 shares of Sedgwick Company common stock for $1,452,000, giving Halstead 25 percent ownership and the ability to apply significant influence over Sedgwick. Any excess of cost over book value acquired was attributed solely to goodwill. Sedgwick reports net income and dividends as follows. These amounts are assumed to have occurred evenly throughout these years. Dividends are declared and paid in the same period. Annual Cash Dividends (paid Net Income quarterly) 2016 $386,000 $140,000 2017 496,000 120,000 2018 600,000 156,000 On July 1, 2018, Halstead sells 12,700 shares of this investment for $24 per share, thus reducing its interest from 25 to 21 percent, but maintaining its significant influence. Determine the amounts that would appear on Halstead's 2018 income statement relating to its ownership and partial sale of its investment in Sedgwick's common stock. As total income accrual (no unearned gains) As on sale of shares Next