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1. On July 1, 20X3. Barker Company purchased 20 percent of Acme Company's outstanding common stock for $400.000 when the fair value of Acme's net
1. On July 1, 20X3. Barker Company purchased 20 percent of Acme Company's outstanding common stock for $400.000 when the fair value of Acme's net assets was $2,000,000. Barker does not have the ability to exercise significant influence over Acme's operating and financial policies. The following data concerning Acme are available for 20x3 Twelve Months Ended December 31, 20X3 $300,000 199,000 Six Months Ended December 31, 20X3 $160,eee 100,000 Net income Dividends declared and paid In its income statement for the year ended December 31, 20X3, how much income should Barker report from this investment
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