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Jaycie Phelps Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on...

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Accounting

Jaycie Phelps Inc. acquired 20% of the outstanding common stock of Theresa Kulikowski Inc. on December 31, 2013. The purchase price was $1,360,800 for 50,400 shares. Kulikowski Inc. declared and paid an $0.76 per share cash dividend on June 30 and on December 31, 2014. Kulikowski reported net income of $787,400 for 2014. The fair value of Kulikowski

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