Exercise 17-13

Exercise 17-13 Shamrock Co. invested $940,000 in Bridgeport Co. for 25% of its outstanding stock. Bridgeport Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Bridgeport to answer the following questions. Investment in Bridgeport Co 940,000 112,000 33,600 (a) How much was Shamrock Co.'s share of Bridgeport Co.'s net income for the year? Net income (b) What was Bridgeport Co.'s total net income for the year? Total net income (c) What was Bridgeport Co.'s total dividends for the year? Total Dividends (d) How much was Shamrock Co.'s share of Bridgeport Co.'s dividends for the year? Dividends