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On January 1, Puckett Company paid $2.04 million for 68,000 shares of Harrison's voting common stock, which represents a 40 percent investment. No allocation to
On January 1, Puckett Company paid $2.04 million for 68,000 shares of Harrison's voting common stock, which represents a 40 percent investment. No allocation to goodwill or other specific account was made. Significant influence over Harrison is achieved by this acquisition and so Puckett applies the equity method. Harrison distributed a dividend of $2 per share during the year and reported net income of $627,000. What is the balance in the Investment in Harrison account found in Puckett's financial records as of December 31? Multiple Choice O $2,531,000. O O $2.280.800 $2,290,800. O $2,236,400. . $2,154,800
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