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Following is a summary of the investments owned by Bridgeport Corporation, as of January 1, 2023: Investment Percentage of Outstanding Shares Bridgeport s Intention STG
Following is a summary of the investments owned by Bridgeport Corporation, as of January 1, 2023:
Investment | Percentage of Outstanding Shares | Bridgeport s Intention | |||
---|---|---|---|---|---|
STG Corporation | 7% | To be sold when prices increase | |||
Brach Ltd. | 33% | Buy additional shares to achieve control of company. Bridgeport has members on Brachs Board of Directors. | |||
Raptor Inc. | 1% | To be sold when prices increase | |||
CMP Ltd. | 24% | Hold indefinitely. Another company owns the remaining 76% of shares | |||
Diloph Inc. | 8% | Hold indefinitely |
During 2023, the various companies paid dividends at various times throughout the year, as follows:
Investment | Bridgeport s Share of Dividends | ||
---|---|---|---|
STG Corporation | $6,570 | ||
Brach Ltd. | 26,400 | ||
Raptor Inc. | 2,530 | ||
CMP Ltd. | 15,800 | ||
Diloph Inc. | 4,510 |
Calculate the amount of dividend income to be shown on Bridgeports income statement for 2023.
Dividen Income: $
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