Problem $2-3$

LO$2,3,5$

Melville Inc. purchased $2,000$ common shares $(20\%)$ of Raymore Ltd$.$ on January $1,$ Year $5$ for $$42,000.$ Additional information on Raymore for the two years ending December $31,$ Year $6,$ is as follows:

$\backslash$table$[[$Year$,$Net Income,Dividends Paid,Market Value per Sha$],[$Year $5,,,$end of period$],[$Year $6,$$$25,000,$$$13,000,$$$22\mathrm{.}00$