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  3. on january 1, 2021, dumbledore co paid $2,220,000

On January 1, 2021, Dumbledore Co paid $2,220,000 for its investment in 272.000 shares of...

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Accounting

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On January 1, 2021, Dumbledore Co paid $2,220,000 for its investment in 272.000 shares of Potter Inc. Potter has 740,000 total shares of stock sued. The book value and fair value of Potter's identifiable net assets were both $7400.000 at January 1, 2021. The following information pertains to Potter during 2021 Net Income Dividends declared and paid Market price of common stock on 12/31/2021 What amount would Dumbledore report in its year-end 2021 balance sheet for its investment in Potter? Investment in Potter Inc. (as of Dec. 31, 2021)

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