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On January 1, 2027, Kasson Company acquired 41% of EIO Company's common stock for $296,000. EIO Company reported net income and paid dividends as follows:
On January 1, 2027, Kasson Company acquired 41% of EIO Company's common stock for $296,000. EIO Company reported net income and paid dividends as follows: 2027 2028 Net income $183,000 $99,000 Total dividends paid $ 37,000 $25,000 1) Calculate the amount of investment revenue related to the investment in EIO Company stock reported in Kasson's 2028 income statement 2) and Calculate the balance in the investment in EIO Company account at December 31, 2028.
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