Pearl Co. invested $970,000 in Martinez Co. for 25% of its outstanding stock. Martinez Co. pays out 40% of net income in dividends each year. Use the information in the following T-account for the investment in Martinez to answer the following questions. Investment in Martinez Co. 970,000 102,000 (a) How much was Pearl Co.'s share of Martinez Co's net income for the year? Net income 40,800 (b) What was Martinez Co.'s total net income for the year? Total net income

Peari Co. invested $970,000 in Martinez Co. for 25% of its outstanding stock. Martinez Co, pays out 40% of net income in dividends cachyear. Use the infocmation in the following T-account for the investment in Martinez to answer the following questions, (a) How much was Pearl Co.s share of Martinez Cois net income for the year? Netincome (b) What was Martincz Co's total net income for the year? Total net income