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Gibbs Company made the following investments during 2021 with other relevant information given as well Purchased 10,000 shares of ABC stock for $25.00 per share.
Gibbs Company made the following investments during 2021 with other relevant information given as well Purchased 10,000 shares of ABC stock for $25.00 per share. Gibbs plans on soling the investment quickly Purchased 250,000 shares of DEF stock for $20.00 per share. The shares represent 30% of the outstanding stock of DEF and Gibbs was able to exert significant influence on DEF. Gibbs received a $1.25 per share dividend from ABC Gibbs received a $1.75 per share dividend from DEF DEF reported a total net income of $2,000,000 The year end market prices were as follows: o ABC: $22.50 DEF: $36.00 Required What would appear on the income statement regarding the DEF investment
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