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Marin Co. invested $1,040,000 in Headland Co. for 25% of its outstanding stock. Headland Co. pays out 40% of net income in dividends each

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Marin Co. invested $1,040,000 in Headland Co. for 25% of its outstanding stock. Headland Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Headland to answer the following questions. Investment in Headland Co. 1,040,000 109,000 43.600 (a) How much was Marin Co's share of Headland Co's net income for the year? Net income $ (b) What was Headland Co's total net income for the year? Total net income $ (c) What was Headland Co's total dividends for the year? Total Dividends $

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