Business, 21.01.2021 22:20 rodriguezbrian050702

The summarized balance sheets of Wildhorse Company and Blossom Company as of December 31, 2021 are as follows: Wildhorse Company Balance Sheet December 31, 2021 Assets $2850000 Liabilities $390000 Capital stock 1400000 Retained earnings 1060000 Total equities $2850000 Blossom Company Balance Sheet December 31, 2021 Assets $2160000 Liabilities $500000 Capital stock 1330000 Retained earnings 330000 Total equities $2160000 If Wildhorse Company acquired a 20% interest in Blossom Company on December 31, 2021 for $520000 and the equity method of accounting for the investment were used, the amount of the debit to Equity Investments (Blossom) would have been $432000. $266000. $520000. $332000.

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The summarized balance sheets of Wildhorse Company and Blossom Company as of December 31, 2021 are a...

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