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FOR ANSWER: YOU DONT HAVE TO WRITE PARAGRAPHS JUST BULLETS I WILL TURN THEM INTO...

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Accounting

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FOR ANSWER: YOU DONT HAVE TO WRITE PARAGRAPHS JUST BULLETS I WILL TURN THEM INTO PARAGRAPHS

P1. XYZ Company had the following transactions related to ABC Company over a two-year period: Year 1 1. On January 1, XYZ purchased 35% ownership of ABC Company for $700.000 cash. 2. ABC Company had net income of $70,000 for the year. 3. At year-end. ABC Company paid its shareholders dividends of $60.000. Year 2 1. XYZ Company purchased on January 1 an additional 5% of ABC Company's stock for $75,000 cash 2. ABC Company had net income of $150,000 for the year. 3. At year-end. ABC company paid its shareholders dividends of $100,000 What amounts will appear on the financial statements? $ AMOUNTS Accounts/Descriptions Year 1 Year 2 B/S I/S SCF Evaluate the performance of your investment. (explain and show supporting amounts/calcs)

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