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Port company purchased 45,600 of the 114,000 outstanding shares of sund company common stock on January 1, 20X2, for $185,000. The purchase price was equal
Port company purchased 45,600 of the 114,000 outstanding shares of sund company common stock on January 1, 20X2, for $185,000. The purchase price was equal to the book value of the shares purchased. Sund reported the following:
Year net income dividends
20X2 $43,000 $28,000
20X3 33,000
20X4 13,000
Compute the amounts port company should report as the carrying values of its investment in Sund company at December 31, 20X2, 20X3, and 20X4
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