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Pronghorn Co. Invested $1,080,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 40% of net income in dividends each year.

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Pronghorn Co. Invested $1,080,000 in Stellar Co. for 25% of its outstanding stock. Stellar Co. pays out 40% of net income in dividends 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 inches $ (c) What was Stellar co.s total dividends for the year? Total Dividends $

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