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Equity method income accrual for 2018
      25% of $589,000 for ½ year $             73,625
      21% of $589,000 for ½ year $             61,845
Total income accrual $           135,470
Gain on sale (Refer Below) $           118,680
Total income statement effect–2018 $           254,150
Gain on sale of 13,800 shares of Halstead
Initial acquisition- 2016 $        1,510,000
25% income accrual- 2016: (25% × $362,000) $             90,500
Dividend - 2016 (25%*137,000) $           (34,250)
25% income accrual- 2017: (25% × $505,000) $           126,250
Dividend - 2017 (25%*134,000) $           (33,500)
25% income accrual for ½ year- 2018 $             73,625
(25%*589000/2)
25% of dividends for ½ year- 2018 $           (20,625)
(25%*165000/2)
Book value of 80,000 shares on July 1, 2018 $        1,712,000
Cash proceeds from the sale of 13,800 shares $           414,000
(13,800*30)
Less: Book value of shares sold $           295,320
          ($1,712,000*(13,800 ÷ 80,000))
Gain on Sale $           118,680

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