In early $2023,$ for the first time, Concord Corp. invested in the common shares of another Canadian company. It acquired $4,400$ shares of Toronto Stock Exchange$-$traded Bayscape Ltd$.$ at a cost of $$60,500.$ Bayscape is projected to reach a value of $$15\mathrm{.}50$ per share by the end of $2023$ and $$17$ by the end of $2024,$ and has consistently paid an annual dividend of $$0\mathrm{.}90$ per share. Concord is also a Canadian public corporation with a December $31$ year end.

The controller of Concord is uncertain about which accounting method to use. The company is interested in establishing a closer relationship with Bayscape, but if that fails, Concord considers the investment a good opportunity to make a gain on its sale in the future. The controller has been advised that the investment could be accounted for at cost or at fair value. If at fair value, a decision would have to be made about whether to put the changes in fair value through net income or other comprehensive income. As one step in making a decision, the controller would like to know what the effect would be on total assets and net income in each of $2023$ and $2024$ if the predictions about Bayscape's share prices and dividends are correct. Assume there would be no recycling of realized investment gains and losses.