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On January 2, 2020, Hui Corporation purchased 40% of the outstanding shares of Tao Corporation for $800,000. Net income reported by Tao Corporation for 2020
On January 2, 2020, Hui Corporation purchased 40% of the outstanding shares of Tao Corporation for $800,000. Net income reported by Tao Corporation for 2020 and 2021 was, respectively, $100.000 and $125,000. Dividends paid by Tao Corporation during 2020 and 2021 were, respectively, $60,000 and $75,000. Hui Corporation has representation on the Tao corporation board of directors The investment in common shares account will appear on Hui Corporation's December 31, 2020, balance sheet at O A. $840,000 OB. $776.000 O C. $800.000 O D. $816.000
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