=+3. Cole Company owns 40% of Barnwell Inc. During the current year, Barnwell reported net income of

Question:

=+3. Cole Company owns 40% of Barnwell Inc.

During the current year, Barnwell reported net income of $200,000 and declared dividends of

$60,000. How much would Cole Company increase Investment in Barnwell Inc. Stock for the current year?

A. $24,000 C. $80,000 B. $56,000 D. $104,000

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Accounting

ISBN: 978-1111001346

23rd Edition

Authors: Carl S. Warren

Question Posted: