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On January 1, 2017, Swifty Corporation purchased 30% of the common stock outstanding of Blossom Corporation for $275000 Dring 2017, Blossom Corporation reported net income

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On January 1, 2017, Swifty Corporation purchased 30% of the common stock outstanding of Blossom Corporation for $275000 Dring 2017, Blossom Corporation reported net income of $79000 and paid cash dividends of $38000. The balance of the Stock Investments-Blossom account on the books of Swifty Corporation at December 31, 2017 is $275000 313000. 354000 $287300

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