On January 1, 2021, Coronado Ltd., a private company, buys 25% of Sugar Maple Candy Company's 180,000
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On January 1, 2021, Coronado Ltd., a private company, buys 25% of Sugar Maple Candy Company's 180,000 common shares for $432,000. On December 31, 2021, Sugar Maple pays a $31,500 cash dividend and reports profit of $252,000. At December 31, 2021, Sugar Maple's shares are trading at $12.50 per share. Both companies have a December 31 year end. Coronado is able to appoint one board member to Sugar Maple's board of directors and this person has been influential in directing the operations of the company.
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