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On January 2, 2023, Bramble Corp. purchased 100 of the 1000 outstanding common shares of Crane Ltd. for $55000. During 2023, Crane declared total cash
On January 2, 2023, Bramble Corp. purchased 100 of the 1000 outstanding common shares of Crane Ltd. for $55000. During 2023, Crane declared total cash dividends of $15000 and reported net income for the year of $51000. If Bramble uses the equity method of accounting for its investment in Crane, Brambles Investment in Crane Ltd. account at December 31, 2023 should be Select answer from the options below $53500. $60100. $58600. $55000
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