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Shamrock Co. invested $1,060,000 in Bridgeport Co. for 25% of its outstanding stock. Bridgeport Co.pays out 30% of net income in dividends each year. Use
Shamrock Co. invested $1,060,000 in Bridgeport Co. for 25% of its outstanding stock. Bridgeport Co.pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Bridgeport to answer the following questions. Investment in Bridgeport Co. 1,060,000 121,000 36,300 (a) How much was Shamrock Co-s share of Bridgeport Cos net income for the year? Net income $ (6) What was Bridgeport Co's total net income for the year? Total net income $ (c) What was Bridgeport Co's total dividends for the year? Total Dividends $ (d) How much was Shamrock Co's share of Bridgeport Co's dividends for the year? Dividends $
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