P Corporation bought 100% of S Company's common stock at its book value of $400,000...
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P Corporation bought 100% of S Company's common stock at its book value of $400,000 on January 1, 2014. During 2014, S reported net income of $130,000 and paid dividends of $40,000. At what amount should P's Income from S be reported on December 31, 2014 by using equity method? Select one: a. 99,000 b. 100,000 c. 130,000 d. 110,000
P Corporation bought 100% of S Company's common stock at its book value of $400,000 on January 1, 2014. During 2014, S reported net income of $130,000 and paid dividends of $40,000. At what amount should P's Income from S be reported on December 31, 2014 by using equity method?
Select one:
a. 99,000
b. 100,000
c. 130,000
d. 110,000
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