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On January 1, 2016, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $750.0 million cash. Wolfes net income for
On January 1, 2016, Beilich Enterprises bought 20% of the outstanding common stock of Wolfe Construction Company for $750.0 million cash. Wolfes net income for the year ended December 31, 2016, was $375.0 million. During 2016, Wolfe declared and paid cash dividends of $75.0 million. Beilich recorded the investment as follows: |
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