On January 1, 2013, K Company purchased a 30 % interest in P Company for $250,000. P reported net income of $100,000 for 2013 and declared and paid a dividend $10,000, K accounts for investment using the equity method. In December 31, 2013, balance sheet, what amount should K report as its investment in P? e of Select one: aetition a. 160,000 b. 277,000 C. 223.000 d. 340,000 Question 10 Not yet answered Marked out of 1.50 P Flag question B Corporation acquired 100% of C Corporation's outstanding capital stock for $430,000 cash. Immediately before the purchase, the balance sheets of both corporations reported the following: B Assets $2,000,000 $750,000 Liabilities $ 750,000 $400,000 Common Stock 1,000,000 310,000 Retained Earnings 250,000 40,000 At the date of purchase, the fair value of assets was $50,000 more than the book value. In the consolidated balance sheet prepared immediately after the purchase, the consolidated stockholders' equity should amount to Select one: a. 1,250,000 b. 1,600,000 C. 1,680.000 d. 1.650,000 Previous page Next page 30 TV TV ENG C