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Grouper Co. invested $1,100,000 in Monty Co. for 25% of its outstanding stock. Monty Co. pays out 40% of net income in dividends each year.

image text in transcribed Grouper Co. invested $1,100,000 in Monty Co. for 25% of its outstanding stock. Monty Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Monty to answer the following questions. (a) How much was Grouper Co.'s share of Monty Co.'s net income for the year? Net income \$ (b) What was Monty Co.'s total net income for the year? Total net income $ (c) What was Monty Co's total dividends for the year? Total Dividends (d) How much was Grouper Co.'s share of Monty Co.'s dividends for the year? Dividends

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