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On January 3, 2021, Roberts Company purchased 30% of the 100.000 shares of common stock of Thomas Corporation, paying $1.500,000. There was no goodwill or
On January 3, 2021, Roberts Company purchased 30% of the 100.000 shares of common stock of Thomas Corporation, paying $1.500,000. There was no goodwill or other cost allocation associated with the investment. Roberts has significant influence over Thomas. During 2021. Thomas reported net income of $300.000 and paid dividends of $100.000. On January 4, 2022, Roberts sold 15.000 shares for $800,000. What is the gain/loss on the sale of the 15.000 shares? Multiple Choice O $0. $10,000 gain. $20,000 gain. $12.000 loss. $15.000 loss
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