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Transaction

$($a$)$ Fair Value Method

$($b$)$ Equity Method

$1$ At the beginning of Year $1.$ Cullumber bought $30\%$ of Ivanhoe's common stock at its book value. Total book value of all I vanhoe's common stock was $$870\mathrm{.}000$ on this date.

$2.($a$)$ During Year $1,$ Ivanhoe reported $$70,000$ of net income.

$($b$)$ During Year $1,$ Ivanhoe paid $$35\mathrm{.}000$ of dividends.

$3.($a$)$ During Year $2,$ Ivanhoe reported $$35\mathrm{.}000$ of net income.

$($b$)$ During Year $2,$ Ivanhoe paid $$22\mathrm{.}000$ of dividends.

$4.($a$)$ During Year $3,$ Ivanhoe reported a net loss of $$11,000$

$($b$)$ During Year $3,$ Ivanhoe paid $$4,500$ of dividends.

$5.$ Indicate the Year $3$ ending balance in the Investment account, and cumulative totals for Years $1,2,$ and $3$ for dividend revenue and investment income included in Retained Earnings.