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Blossom, Inc. acquired 20% of Nash Corporation's voting stock on January 1, 2021 for $870000. During 2021, Nash earned $361000 and paid dividends of $224000.
Blossom, Inc. acquired 20% of Nash Corporation's voting stock on January 1, 2021 for $870000. During 2021, Nash earned $361000 and paid dividends of $224000. Blossom's 20% interest in Nash gives Blossom the ability to exercise significant influence over Nash's operating and financial policies. During 2022, Nash earned $461000 and paid cash dividends of $124000 on April 1 and $124000 on October 1. On July 1, 2022, Blossom sold half of its stock in Nash for $621000 cash. What should the gain be on sale of this investment in Blossom's 2022 income statement? O $151200. O $172300. $186000. $161650
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