Business, 24.06.2020 20:01 fatty18

On July 1, 20X3, Barker Company purchased 20 percent of Acme Company's outstanding common stock for $400,000 when the fair value of Acme's net assets was $2,000,000. Barker does not have the ability to exercise significant influence over Acme’s operating and financial policies. The following data concerning Acme are available for 20X3: Twelve month ended dec31,20x3 Six month ended dec31,20x3Net Income 300,000 160,000Dividend declared and 190,000 100,000paidHow much income should Barker report from this investment?a. 20,000b. 32,000c. 38,000d. 60,000

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On July 1, 20X3, Barker Company purchased 20 percent of Acme Company's outstanding common stock for...

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