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On January 1, 2021. Vaughn Corporation purchased 38% of the common shares of Ayayai Limited for $409000, During 2021. Ayayai Limited paid cash dividends of
On January 1, 2021. Vaughn Corporation purchased 38% of the common shares of Ayayai Limited for $409000, During 2021. Ayayai Limited paid cash dividends of $64000 and had profit of $298000. During the same period, Vaughn earned $494000 and paid dividends of $128000. Both corporations have a December 31 year end. Assuming Ayayai is Vaughn's only equity investment on its December 31, 2021 income statement, Vaughn would report which of the following? o income from investment in Ayayai. $298000 O income from investment in Ayayai, $113240 dividend revenue, $64000 dividend revenue, $24320
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