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Need help with this please Whispering Co. invested $980,000 in Metlock Co. for 25% of its outstanding stock. Metlock Co. pays out 30% of net
Need help with this please
Whispering Co. invested $980,000 in Metlock Co. for 25% of its outstanding stock. Metlock Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Metlock to answer the following questions. Investment in Metlock Co. 980,000 113,000 33,900 (a) How much was Whispering Co's share of Metlock Co's net income for the year? Net income $ 113000 b) What was Metlock Co's total net income for the year? Total net income 28250 (c) What was Metlock Co's total dividends for the year? Total Dividends $ 99270 (d) How much was Whispering Co's share of Metlock Co's dividends for the year? Dividends $ 99270Step by Step Solution
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