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Business, 20.08.2019 18:30 jonnycampbell223

On january 2, 2010, howdy doody corporation purchased 12% of ranger corporation's common stock for $50,000 and classified the investment as available for sale. ranger's net income for the years ended december 31, 2010 and 2011, were $10,000 and $50,000, respectively. during 2011, ranger declared and paid a dividend of $60,000. there were no dividends in 2010. on december 31, 2010, the fair value of the ranger stock owned by howdy doody had increased to $70,000. how much should howdy doody show in the 2011 income statement as income from this investment?

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On january 2, 2010, howdy doody corporation purchased 12% of ranger corporation's common stock for $...
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