Business, 25.01.2020 07:31 amberunderhill
On january 4, 2012, harley, inc. acquired 40% of the outstanding common stock of bike co. for $2,400,000. this investment gave harley the ability to exercise significant influence over bike. bike's assets on that date were recorded at $10,500,000 with liabilities of $4,500,000. there were no other differences between book and fair values. during 2012, bike reported net income of $500,000. for 2013, bike reported net income of $800,000. dividends of $300,000 were paid in each of these two years. how much income did harley report from bike for 2012?
a) $120,000.
b) $300,000.
c) $200,000.
d) $500,000.
e) $320,000.
Answers: 1
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On january 4, 2012, harley, inc. acquired 40% of the outstanding common stock of bike co. for $2,400...
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