Lynch Corporation owns 35% of the outstanding common stock of Katherine Interiors Inc. a. Explain how Lynch
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Lynch Corporation owns 35% of the outstanding common stock of Katherine Interiors Inc.
a. Explain how Lynch Corporation would account for its share of Katherine Interiors’ net income of $500,000.
b. Explain how Lynch Corporation would account for the receipt of $30,000 of dividends from Katherine Interiors Inc.
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