On January 3, 2017, Blanton Co. purchased 24% of Martin Company's voting stock for $100,000. During 2017, Martin recorded income of $90,000 and paid total dividends of $15,000. Blanton uses the equity method to account for this investment. Calculate Blanton's income from the Martin investment and the December 31, 2017, balance sheet value of its long-term equity investment in Martin. Show your work.

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The Answer of On January 3, 2017, Blanton Co. purchased 24% of Martin Company's voting stock for $100,000. During 2017, Martin recorded income of $90,000 and paid total dividends of $15,000. Blanton uses the equity method to account for this investment. Calculate Blanton's income from the Martin investment and the December 31, 2017, balance sheet value of its long-term equity investment in Martin. Show your work.