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Sheffield Co. invested $1,010,000 in Tamarisk Co. for 25% of its outstanding stock. Tamarisk Co. pays out 30% of net income in dividends each year.
Sheffield Co. invested $1,010,000 in Tamarisk Co. for 25% of its outstanding stock. Tamarisk Co. pays out 30% of net income in dividends each year. Use the information in the following T-account for the investment in Tamarisk to answer the following questions. (a) How much was Sheffield Co.'s share of Tamarisk Co's net income for the year? Net income $ (b) What was Tamarisk Co's total net income for the year? Total net income $ (c) What was Tamarisk Co.s total dividends for the year? Total Dividends $ (d) How much was Sheffield Co's share of Tamarisk Co's dividends for the year
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