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On January 1 2010 harris pays 300,000 for 6,000 shares of horton, representing a 25%...

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Accounting

On January 1 2010 harris pays 300,000 for 6,000 shares of horton, representing a 25% ownership. Harris has significant influence. During 2010, Horton earns $200,000 and pays dividends of $2 per share. Harris has net income of $500,000 and pays dividends of $300,000 in 2010. Answer the Following:

A. How much equity income is recorded by Harris in 2010.

B. What is the balance in the Investment in Hortonfound on harris books at December 31, 2010.

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