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Pronghorn Co. invested $1,070,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividen each year.

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Pronghorn Co. invested $1,070,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 30% of net income in dividen each year. Use the information in the following T-account for the investment in Stellar to answer the following questions. (a) How much was Pronghorn Co's share of Stellar Co.'s net income for the year? Net income (b) What was Stellar Co's total net income for the year? Total net income (c) What was Stellar Co's total dividends for the year? (b) What was Stellar Co.'s total net income for the year? Total net income $ (c) What was Stellar Co.'s total dividends for the year

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