Port Company purchased 31,500 of the 105,000 outstanding shares of Sund Company common stock on...
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Accounting
Port Company purchased 31,500 of the 105,000 outstanding shares of Sund Company common stock on January 1, 20X2, for $189,000. The purchase price was equal to the book value of the shares purchased. Sund reported the following:
| Year | Net Income | Dividends | ||||||
| 20X2 | $ | 44,000 | $ | 29,000 | ||||
| 20X3 | 34,000 | |||||||
| 20X4 | 17,000 | |||||||
Required: Compute the amounts Port Company should report as the carrying values of its investment in Sund Company at December 31, 20X2, 20X3, and 20X4.
| Amounts | |
| 20X2 | |
| 20X3 | |
| 20X4 |
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