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5) On Jan. 1, 2020 Parent Inc. invested $ 420,000 in Subsidiary Inc. (80% Owned). For 2020, Subsidiary Inc. Earned $ 80,000 Declared Divided of

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5) On Jan. 1, 2020 Parent Inc. invested $ 420,000 in Subsidiary Inc. (80% Owned). For 2020, Subsidiary Inc. Earned $ 80,000 Declared Divided of $ 56,000 Paid Dividend of $ 48,000 What amount does Petro report for the following items under Cost Method? Cost Method Investment Income for 2020 Investment in Subsidiary Inc. at the year End Retained Earnings Increase 80 5:33 PM

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