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On January 1, 2021, ABC Company purchased 15,000 shares (38%) of Riley Corp stock for $140,000. During 2021, Riley Corp reported a net income of
On January 1, 2021, ABC Company purchased 15,000 shares (38%) of Riley Corp stock for $140,000. During 2021, Riley Corp reported a net income of $73,000 and paid dividends totaling $15,000. At December 31, 2021 the Riley Corp stock was worth $23.50 per share. Calculate the amount of investment revenue related to the investment in Riley Corp reported on ABC Company's 2021 income statement.
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The Basics Of Quality Auditing
Authors: Ronald Blank
1st Edition
1138438863, 9781138438866
