On January 1, 2013, Nana Company paid $100,000 for 7,700 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reporte

On January 1, 2013, Nana Company paid $100,000 for 7,700 shares of Papa Company common stock. These securities were classified as trading securities. The ownership in Papa Company is 10%. Papa reported net income of $60,000 for the year ended December 31, 2013. The fair value of the Papa stock on that date was $60 per share. What amount will be reported in the balance sheet of Nana Company for the investment in Papa at December 31, 2013?

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