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Player Corporation purchased 100 percent of Scout Company's common stock on January 1, 20X5, and...

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Accounting

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Player Corporation purchased 100 percent of Scout Company's common stock on January 1, 20X5, and paid $43,000 above book. value. The full amount of the additional payment was attributed to amortizable assets with a life of four years remaining at January 1 . 20X5. During 205 and 206. Scout reported net income of $40,000 and $10,000 and paid dividends of $14,000 and $11,000. respectively. Player uses the equity method in accounting for its investment in Scout and reported a balance in its investment account of $178.000 on December 31,206 Required: Compute the amount paid by Player to purchase Scout shares

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