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Hi, can you show me how to answer these. Thank you! Right Company purchased 17,000 common shares (20%) of ON lnc. on January 1, Year

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Hi, can you show me how to answer these. Thank you!

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Right Company purchased 17,000 common shares (20%) of ON lnc. on January 1, Year 11, for $267,000. Right uses the equity method to report its investment in ON because it has significant influence in the operating and investing decisions made by ON. Right has no legal obligation to pay any of CNS liabilities and has not committed to contribute any more funds to ON. Additional information for ON for the four years ending December 31, Year 14, is as follows: Dividends Market VbLue per Share at YEar Net Income Paid December 31 Year 11 $ 376,666 $65,666 $22 Year 12 (476,666) 65,666 3 Year 13 (576, see) a 1 Year 14 (676, sea) a a Required: {3) Calculate the balance in the investment account for each of the Years 11 through 14. Assume that the market value is used in determining whether the investment is impaired. (Leave no cells blank - be certain to enter "0" wherever required. Negative amounts should be indicated by a minus sign. Enter your answers in thousands.) Year 11 Year 12 Year 13 Year 14 Investment, beginning of year $ 5 $ $ Cost Equity method income Dividends received Impairment loss Year 11 Year 12 Year 13 Year 14 Investment, beginning of year Cost Equity method income Dividends received Impairment loss Investment, end of year $ |:| :5 |:| $ |:| $ |:| (b) Determine the total income to be reported by Right from its investment in ON for each of the Years 11 through 14. (Leave no cells blank - be certain to enter "0\" wherever required. Negative amounts should be indicated by a minus sign. Enter your answers in thousands.) Year 11 Year 12 Year 13 Year 14 Equity method income $ $ $ $ Impairment loss $|:| $|:| $: $|:|

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