On January 2, 2018, Baltimore Company purchased 10,000 shares of the

stock of Towson Company at $10 per share. Baltimore did NOT obtain significant influence as the purchase represents a 10% ownership stake in Towson Company. On August 1, 2018, Towson Company paid cash dividends of $21,000. Baltimore Company intended this investment to a long-term investment. On December 31, 2018, Towson Company reported $75,000 of net income for FY 2018. Additionally, the current market price for Towson Company’s stock increased to $28 per share at the end of the year. Use this information to determine, how much Baltimore Company should report for its investment in Towson Company on December 31, 2018.