On January 1, 2021, Nana Company paid $100,000 for 8,800 shares of Papa Company common stock. The ownership in Papa Company is 10%. Nana Company does not have significant influence over Papa Company. Papa reported net income of $58,000 for the year ended December 31, 2021. The fair value of the Papa stock on that date was $48 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2021

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above