Enabled: Test #$3($Ch$.10,11,12)$ i

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On January $1,2024,$ Nana Company paid $$100,000$ for $7,600$ shares of Papa Company common stock. The ownership in Papa Company is $10\%.$ Nana Company does not have significant influence over Papa Company. Papa reported net income of $$58,000$ for the year ended December $31,2024.$ The fair value of the Papa stock on that date was $$53$ per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December $31,2024?$

Multiple Choice

$$342,800$

$$357,800$

$$327,800$

$$402,800$

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