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Please, help with the following Problem : On January 1, 2021, Lear Company purchased 39% of Bunker Company's common stock for $340,000. During 2021, Bunker
Please, help with the following Problem:
On January 1, 2021, Lear Company purchased 39% of Bunker Company's common stock for $340,000. During 2021, Bunker Company reported a net income of $192,000 and paid dividends totaling $34,000. In 2022, Bunker Company reported a net income of $108,000 and paid dividends totaling $18,000. On December 31, 2022, Lear Company sold one-fourth of its investment in Bunker Company for $112,790 cash. Calculate the amount of investment revenue related to the investment in Bunker Company reported on Lear Company's 2021 income statementStep by Step Solution
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