Sage Co. invested $920,000 in Pronghorn Co. for 25% of its outstanding stock. Pronghorn Co. pays out 30% of net income in dividends each year.

Use the information in the following T-account for the investment in Pronghorn to answer the following questions.

Investment in Pronghorn Co.

920,000

99,000

29,700

(a) How much was Sage Co.'s share of Pronghorn Co.'s net income for the year?

Net income $enter Sage's net income in dollars

(b) What was Pronghorn Co.'s total net income for the year?

Total net income $enter the total net income of PronghornCo. for the year

(c) What was Pronghorn Co.'s total dividends for the year?

Total Dividends $enter the total dividends of PronghornCo. for the year

(d) How much was Sage Co.'s share of Pronghorn Co.'s dividends for the year?

Dividends $enter the dollar amount of dividends for Sage Co.