Business, 13.05.2021 23:20 Natavia3402

Assume that, on January 1, 2021, Matsui Co. paid $1,544,400 for its investment in 70,200 shares of Yankee Inc. Further, assume that Yankee has 270,000 total shares of stock issued. The book value and fair value of Yankee's identifiable net assets were both $540,000 at January 1, 2021. The following information pertains to Yankee during 2021: Net income $ 270,000 Dividends declared and paid $ 81,000 Market price of common stock on 12/31/2021 $ 24 /share What amount would Matsui report in its year-end 2021 balance sheet for its investment in Yankee

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Assume that, on January 1, 2021, Matsui Co. paid $1,544,400 for its investment in 70,200 shares of Y...

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