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On January 1 , Vince SpA purchased a 2 5 % equity in Morelli SpA for 1 8 0 , 0 0 0 . At

On January

1,

Vince SpA purchased a

25 %

equity in Morelli SpA for

180, 000 .

At December

31,

Morelli declared and paid a

36, 000

cash dividend and reported net income of

160, 000 .

Instructionsa. Journalize the transactions.b

.

Determine the amount to be reported as an investment in Morelli at December

31 .

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