On January I, 2017, Dawson, Incorporated, paid $100,000 for a 30% interest in Sacco Corporation. This investee had assets with a book value of$550,000 and liabilities of $300,000. A patent held by Sacco having a book value of$IO,OOO was actually worth $40,000 with a six-year remaining life. Any goodwill associated with this acquisition is considered to have an indefinite life. During 2017, Sacco reported net income o f $50,000 and paid dividends o f $20,000 while in 2018 it reported net income o f $75,000 and _ _ _ _ _ Dawson has the ability!o significantly influence the operations of Sacco, a-The amount allocated to good will at January 1, 2017, is?

b-The equity in income of Sacco for 2017, is?

c-The equity in income o f Sacco for 2018, is?

d-The balance in the investment in Sacco account at December 31, 20I7, is?

e-.The balance in the Investment in Sacco account at December 31,2018, is A) $119,500. B) $125,500. C) $116,500. D) 118,000

thats the full quetion

ACCL 4011 Assignment will pages 0 Search CHAPTER #1 ASSIGNMENT #7 On January 1, 2017, Dawson, Incorporated, paid $100,000 for a 30% interest in Sacco Corporation. This investee had assets with a book value of $550,000 and liabilities of $300,000. A patent held by Sacco having a book value of $10,000 was actually worth $40,000 with a six-year remaining life. Any goodwill associated with this acquisition is considered to have an indefinite life. During 2017, Sacco reported net income of $50,000 and paid dividends of $20,000 while in 2018 it reported net income of $75,000 and dividends of $30,000. Assume Dawson has the ability to significantly influence the operations of Sacco