Sports International purchased 1,200 shares of stock in The Gaming Warehouse for $40 per share....
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Accounting
Sports International purchased 1,200 shares of stock in The Gaming Warehouse for $40 per share. The investment is properly recorded using the equity method. By the end of the year, the stock price has increased to $42 per share. How would the change in stock price affect Sports International's net Income under the equity method? Multiple Choice Increase net income by $50.400. Increase net income by $48,000.- Increase net income by $2,400 No effect A company purchased bonds on July 1, 2021, for $274,885. This price represents a market rate of 6% on bonds that have a face amount of $250,000, have a stated rate of 8%, pay semiannual interest, and mature in 6 years Calculate the amortized cost of the bonds as of December 31, 2021 Multiple Choice $273.132 $264 885 $276.638 $266,638
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