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Metlock Co. invested $980,000 in Bonita Co. for 25% of its outstanding stock. Bonita Co. pays out 30% of net income in dividends each
Metlock Co. invested $980,000 in Bonita Co. for 25% of its outstanding stock. Bonita Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Bonita to answer the following questions. Investment in Bonita Co. 980,000 113,000 33,900 (a) How much was Metlock Co's share of Bonita Co's net income for the year? (a) How much was Metlock Co.'s share of Bonita Co.'s net income for the year? Net income (b) What was Bonita Co's total net income for the year? Total net income $ (c) What was Bonita Co's total dividends for the year? Total Dividends $ (d) How much was Metlock Co.'s share of Bonita Co.'s dividends for the year? Dividends
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