On January 5, 2019, Solokov Corporation purchased 11% of Ming Corporation's common stock for $40,000. Ming Corporation's net income for the years ended December 31, 2019, and December 31, 2020, were $10,000 and $130,000, respectively. During 2020, Ming Corporation declared and paid a dividend of $60,000 (total amount paid to all stockholders, not to each stockholder). On December 31, 2019, the fair value of the Ming Corporation stock owned by Solokov Corporation was $50,000 and on December 31, 2020, it was $70,000. The company has a calendar year end. How much should Solokov Corporation include its 2020 income statement as income from this investment in Ming Corporation? As support, you must include your journal entry(entries) for how you came to your answer for full points, A On January 5, 2019, Solokov Corporation purchased 11% of Ming Corporation's common stock for $40,000. Ming Corporation's net income for the years ended December 31, 2019, and December 31, 2020, were $10,000 and $130,000, respectively. During 2020, Ming Corporation declared and paid a dividend of $60,000 (total amount paid to all stockholders, not to each stockholder), On December 31, 2019, the fair value of the Ming Corporation stock owned by Solokov Corporation was $50,000 and on December 31, 2020, it was $70,000. The company has a calendar year end. How much should Solokov Corporation include its 2020 income statement as income from this investment in Ming Corporation? As support, you must include your journal entry(entries) for how you came to your answer for full points, Using the information above.How much would this 11% investment in Ming Corporation be valued for on Solokov's balance sheet as of 12/31/2020? Question 12 3 pts Instead, what if Solokov purchased 25% of Ming Corporation.... Updated scenario: On January 5, 2019, Solokov Corporation purchased 25% of Ming Corporation's common stock for $90,900. Ming Corporation's net income for the years ended December 31, 2019, and December 31, 2020, were $10,000 and $130,000, respectively. During 2020, Ming Corporation declared and paid a dividend of $60,000 (total amount paid to all stockholders, not to each stockholder). On December 31, 2019, the fair value of the Ming Corporation stock owned by Solokov Corporation (25% ownership) was $113,000 and on December 31, 2020, it was $159,000. The company has a calendar year end. How much should Solokov Corporation include its 2020 income statement as income from this investment in Ming Corporation? As support, you must include your journal entry(entries) for how you came to your answer for full points On January 5, 2019, Solokov Corporation purchased 11% of Ming Corporation's common stock for $40,000. Ming Corporation's net income for the years ended December 31, 2019, and December 31, 2020, were $10,000 and $130,000, respectively. During 2020, Ming Corporation declared and paid a dividend of $60,000 (total amount paid to all stockholders, not to each stockholder), On December 31, 2019, the fair value of the Ming Corporation stock owned by Solokov Corporation was $50,000 and on December 31, 2020, it was $70,000. The company has a calendar year end. How much should Solokov Corporation include its 2020 income statement as income from this investment in Ming Corporation? As support, you must include your journal entry(entries) for how you came to your answer for full points, Using the information above. How much would this 11% investment in Ming Corporation be valued for on Solokov's balance sheet as of 12/31/2020? Question 12 3 pts Instead, what if Solokov purchased 25% of Ming Corporation.... Updated scenario: On January 5, 2019, Solokov Corporation purchased 25% of Ming Corporation's common stock for $90,900. Ming Corporation's net income for the years ended December 31, 2019, and December 31, 2020, were $10,000 and $130,000, respectively. During 2020, Ming Corporation declared and paid a dividend of $60,000 (total amount paid to all stockholders, not to each stockholder). On December 31, 2019, the fair value of the Ming Corporation stock owned by Solokov Corporation (25% ownership) was $113,000 and on December 31, 2020, it was $159,000. The company has a calendar year end. How much should Solokov Corporation include its 2020 income statement as income from this investment in Ming Corporation? As support, you must include your journal entry(entries) for how you came to your answer for full points 6 pts Using the information above..How much would this 25% Investment in Ming Corporation be valued for on Solokov's balance sheet as of 12/31/2020? As support, you must include your journal entry(entries) for how you came to your answer for full points